Corma raises €3.5M to advance software license and access governance
Paris-based Corma, a SaaS management solution designed to help IT teams control software usage, has secured €3.5 million in seed funding. This investment, led by XTX Ventures, underscores the growing need for efficient software management as companies face escalating costs and complexities. The solution aims to help businesses gain better control of their software tools, which is especially important with the rise of AI. Founded in 2023, Corma's platform assists small and mid-sized companies in understanding, managing, and optimizing their software spending. The solution collects crucial data points like license renewal terms, user details, and usage metrics through specialised agents. This provides organizations with an accurate overview of their software landscape, enabling better-informed investment decisions. The platform's impact is aimed at reducing overall software spend by up to 20% and saving considerable time on provisioning and access reviews. By offering greater visibility into software usage, Corma addresses the operational challenges many IT departments currently face. The investment will fuel product development, including AI buildout, and support commercial expansion.
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