Comparesoft, a UK-based scale-up dedicated to simplifying the process of finding the right B2B software product has raised a pre-Series A round from Blackfinch Ventures. The growth capital will be used to scale up into new software categories and expand the team.
Comparesoft wants to consumerise the process of buying B2B software. Currently, businesses go through a complex and long process of selecting the right B2B software. On average, a typical B2B software selection process lasts anywhere between 3 to 12 months.
Using Artificial and Human Intelligence, Comparesoft adopts an Ad-Free approach to recommend B2B software products.
Nike, McLaren, Aston Martin, BAE Systems, EDF Energy, Transport for London, NHS and 11,000 such businesses have used Comparesoft to identify the right software options for their requirements.
Blackfinch Ventures of Blackfinch Group which has over £650 million in Assets under Management is a leading Gloucester-based EIS and VCT Fund.
Blackfinch Ventures led the first round in 2019 and also reinvested in this round, backing Comparesoft.
Prasanna Kulkarni, Founder and CEO of Comparesoft said “Blackfinch Ventures’ first investment in Comparesoft in 2019 set the foundation for growth. We grew Comparesoft by 10X in the last 3 years with their first investment. With their recent investment we will be further scaling Comparesoft into new software verticals. Blackfinch Ventures are founder friendly and are great to work with, so we are very pleased to get the additional growth capital and continued cooperation from them”
Ashley Unitt, NED of Comparesoft said “During the last three years at Comparesoft, we have seen great growth. I expect that to continue as Comparesoft provides a service that consistently delivers great value and results to customers in a market where the existing competitive solutions are failing. Comparesoft now has the foundations in place to continue to scale at a rapid pace; proven technology and playbooks, a strong team and culture, and a growing number of delighted customers driving increasing recurring revenues. I’m looking forward to helping Comparesoft navigate the exciting growth to come”
Rueben Wilcock, Head of Ventures at Blackfinch said “We are delighted to support the talented team at Comparesoft on the next stage of their journey, having witnessed the company’s growth since our first investment. Prasanna and his team are experts in the space and highly efficient in the pursuit of their goals. We have strong conviction that Comparesoft will grow to become a market-leading comparison platform for B2B software and look forward to helping the company achieve that aim.”