Xensam, an AI-based software asset management platform, has secured a $40 million growth investment from Expedition Growth Capital to enhance its technology and expand its operations in the U.S. and Europe.

Information on the Target

Xensam is an innovative enterprise software asset management platform based in Stockholm, recognized for its advanced AI-driven tools that assist businesses in effectively monitoring and managing their software usage. Founded eight years ago by brothers Oskar and Gustav Fösker, the company boasts a robust client base of 200 organizations, with notable clients such as Volvo's Polestar and Northvolt. After having successfully operated without external funding, Xensam is now poised for growth, having recently secured a significant $40 million investment to propel further innovation and expansion.

The new funding will enable Xensam to enhance its AI technology stack and accelerate recruitment efforts to strengthen its operational capabilities. Currently employing around 100 individuals, the company is focusing on expanding its presence in the U.S. and European markets to cater to the increasing demands of enterprises seeking effective software asset management solutions.

Industry Overview in the Target’s Specific Country

The software asset management industry is witnessing substantial growth globally, particularly in Europe and other developed regions. In 2023, businesses worldwide spent nearly $900 billion on enterprise software, illustrating the e