Corma, a Paris-based SaaS management platform designed to help IT teams regain control over their software portfolios, has raised €3.5 million in Seed funding. The round was led by XTX Ventures, with participation from Tuesday Capital, Kima Ventures, 50 Partners, and Olympe Capital.
The investment arrives as companies struggle with an explosion in internal software tools. The funding will support product development, AI capabilities, and commercial growth as Corma works to address a problem that costs organizations both money and time.
The Software Sprawl Problem
The average company’s internal software stack has grown from 8 applications in 2015 to 112 in 2023. That’s a tenfold increase in just eight years. This rapid expansion creates significant drag on productivity and financial performance, a challenge that will only intensify as AI tools multiply.
Calculating the true cost of a software portfolio has become nearly impossible. Company growth, workforce changes, new subscriptions, and evolving business models mean the numbers shift constantly.
“We see teams everywhere that are overwhelmed by the number of apps they need to manage every day. They lose money left and right, spend their day on operational tasks instead of strategic initiatives. At the same time, the risks of data leaks and access abuse increases every day with the rise of Shadow AI and the overall permission sprawl,” says Corma co-founder and CEO, Héloïse Rozès.
Where the Money Goes
Corma plans to channel the new capital into three main areas. Product development tops the list, followed by building out AI capabilities and expanding the company’s commercial reach.
The goal is straightforward: give IT departments the visibility they currently lack. Most teams don’t know how many apps are actually in use, what they’re paying for them, or whether employees even find them useful. Corma’s specialized agents gather license renewal terms, authorized users, and usage data. This allows companies to make informed decisions about their software investments, reducing total spend by up to 20% while saving hundreds of hours on provisioning and access reviews.
A Young Company Making Noise
Founded in 2023 in Paris, Corma has already caught industry attention. The platform holds a 4.8 out of 5 customer satisfaction rating on Gartner and serves clients including Brevo, Owkin, Mobilexpense, Skello, Hack The Box, and Brut.
Perhaps most notably, Corma was named the youngest company in this year’s Gartner Magic Quadrant for SaaS Management. The firm also earned recognition as the vendor shipping new features faster than any competitor.
The company was built with international ambitions from day one. Its mission centers on helping small and mid-size businesses understand, manage, and optimize what they spend on software.
Investor Perspective
“Organizations are increasingly inundated with new software, resulting in unchecked SaaS adoption and spend, rather than the promised productivity and efficiency gains,” said Ethan Imboden, Partner at Tuesday Capital. “Corma restores visibility and control to leadership and IT teams, providing the critical tools and insights growing companies need to thrive in the AI era.”
The investor consortium brings together venture capital expertise across the European tech ecosystem. XTX Ventures led the round, while Tuesday Capital, Kima Ventures, 50 Partners, and Olympe Capital all contributed follow-on investments.
