Software company Subble has launched its subscription management platform, supported by AUD $1 million in pre-seed funding. The platform aims to provide business leaders with enhanced visibility into their Software as a Service (SaaS) subscriptions, enabling better control over these products and potentially reducing unnecessary expenditure.
Founded by Nathan Mackinnon, Jaedon Farrugia, and Jesse Duffield, Subble seeks to address a significant issue within the global SaaS industry, which is valued at approximately GBP £154 billion. Reports suggest that around 25% of SaaS expenditure is either underutilised or over-deployed. Mackinnon, the company's co-founder and CEO, highlighted that the software is often the second-largest expense for companies after salaries, leaving many business leaders surprised by the amount that is wasted.
"By simply shining a light on unused licences, we can surface significant savings just minutes after setting up their account," Mackinnon stated. His inspiration to innovate this technology stemmed from observing friends who became casualties of business cost-cutting measures. "Seeing talented individuals lose their jobs while their employers were wasting money on unused technology was a wake-up call for me. With Subble, we're empowering businesses to improve operational efficiency and profitability through smarter software management," he added.
Prior to establishing Subble, Mackinnon served as Head of Product at the prop-tech startup ActivePipe, which successfully exited through acquisition in 2022. His co-founders bring a wealth of experience: Jesse Duffield is the developer of the popular open-source engineering tool Lazygit, while Jaedon Farrugia has a proven track record in building and scaling international teams as an operations executive.
The company's pre-seed investment was led by entrepreneurs Jordan Walsh and Leon Hayes of Haystack Capital. This financial backing will be utilised to refine the product and expand the customer base. Leon Hayes expressed confidence in the platform's potential. "Investing in Subble was an easy decision for us. The platform addresses a critical pain point for businesses and has the potential to revolutionise how organisations manage their software assets. We're confident that with our investment, Subble will continue to innovate and drive significant value for its customers and investors," Hayes remarked.
Early adopters of Subble, such as the prop-tech platform PropertyMate, have already started to see benefits. PropertyMate CEO James Fitzgerald noted, "After setting up with Subble, we saved 33% on our Google Workspace subscription in just one day. It's a fantastic tool for any business."
Subble's platform integrates with a company's existing software products, providing actionable cost-saving insights through a combination of expert analysis and artificial intelligence. Key features include the ability to discover which subscriptions are in use, reduce software subscription costs, and increase security by ensuring that only current employees have access to applications. The launch of Subble marks a significant step forward in the SaaS management sector, promising to help businesses streamline their software costs and improve operational efficiency.
