Cardboard, an Oslo-based company specializing in SaaS subscription management, has announced securing €1.9M in seed funding led by Skyfall Ventures. This strategic funding round also saw participation from RunwayFBU and Sondo. The funds will support the company’s mission to simplify the complexities of subscription management for startups, scaleups, and small and medium-sized enterprises (SMEs). This comes as businesses increasingly struggle with the administrative burden of managing multiple software subscriptions.
In previous reports, Cardboard has consistently aimed to centralize and streamline SaaS subscription processes. Past developments highlighted the company’s focus on reducing operational risks and enhancing data security. These reports also noted the challenges that businesses face with shadow IT and managing software expenses. Today’s announcement aligns with Cardboard’s ongoing efforts to address these issues more effectively with their new funding.
Other information from earlier releases showed that Skyfall Ventures has a history of investing in technology-driven startups across diverse sectors like AI, climate tech, blockchain, and cybersecurity. Their sector-agnostic approach aligns well with Cardboard’s innovative SaaS management platform. The venture capital firm has previously supported companies with strong software components and technical founding teams, similar to Cardboard.
Cardboard: Control over your SaaS spending and automate accounting
Led by Stein Magnus Jodal, Cardboard intends to revolutionize SaaS subscription management for businesses by offering a secure platform to purchase software. The platform eliminates the need to share company card information, thereby reducing operational risks and addressing the issue of shadow IT. This centralized approach not only minimizes the time, cost, and complexity associated with managing multiple software subscriptions but also provides enhanced data security.
The investor
Skyfall Ventures, based in Oslo, is a venture capital firm that focuses on early-stage companies with a strong software foundation. Although sector agnostic, the firm invests primarily in areas such as artificial intelligence, climate tech, blockchain & web3, bioinformatics & longevity, cybersecurity, and robotics. Skyfall Ventures aims to back companies with technical founders who bring specialized expertise to their ventures.
“We are thrilled to back the remarkable team at Cardboard, who know what greatness looks like from their experiences at successful scale-ups like Otovo and Oda. Cardboard brings a fresh approach to addressing the significant challenges of the B2B SaaS boom at almost every company. We look forward to working with them as they scale across Europe,” said Preben Songe-Møller, Partner at Skyfall Ventures.
Cardboard’s new funding round signifies a critical step toward alleviating the burdens of SaaS subscription management for businesses. The introduction of their secure platform aims to minimize operational risks and streamline processes, making it easier for companies to handle multiple software subscriptions efficiently. For startups and SMEs grappling with the complexities of SaaS management, this innovative approach promises to offer significant benefits. By addressing the challenges of shadow IT and data security, Cardboard positions itself as a game-changer in the industry.
