Xensam has closed out the year celebrating momentum for its product development, customer expansion and industry analyst recognition. Xensam is changing the world of software asset management (SAM).
In a world where organizations often have a mix of on-premise and cloud deployments, the Xensam SAM bridges that divide, enabling organizations to track, monitor and manage both software licensing and hardware assets. It brings together data from software license cloud portals and data centre licensing whilst helping to manage the security and compliance of complex estates simply.
As organizations adopt another technology type, AI, the challenges of licensing become even more complex. Between 2021 and 2024, McKinsey revealed that the number of organizations adopting AI in one or more functions rose from 56% to 72%, and the adoption curve has steepened in the last year.
Statista is already projecting that the market size for the Artificial Intelligence market is projected to reach US$826.76bn in 2030 at a CAGR of 28.46% from 2024. Statista projects IT spending to reach over 5.7 trillion US dollars in 2025, over a 9% increase on 2024 spending.
The rapid growth of AI and the increasing reliance on technology by every company increases the importance of asset management. Software Asset Management platforms should ensure that organizations are paying the right amount for their software. Organizations must ensure that the AI software is used, brings the productivity gains that it promises and the projected ROI. However, Research by Rand Corporation indicates that around 80% of AI projects fail.
Improvements to platform
Xensam’s SAM platform helps organizations to better manage their technology portfolio, and in 2024, it further enhanced its platform. During the last year, Xensam has launched several new solutions, they included:
- A new report builder that helps organizations get rapid answers to questions on user and usage trends, total costs, cost-saving potential and more. Xensam comes with over 150 standard reports and offers customizable dashboards to provide instant insights.
- The integration platform supports over 5,000 integrations (at launch) and has a REST API to add even more. It enables integration with millions of systems to streamline your workload and 10x business efficiencies. The intuitive interface uses a simple drag-and-drop function to help you configure your integrations between Xupervisor and almost any other system.
- The new Custom Inventory capabilities enable organizations to detect the usage of modules and addons on software used. For example, it provides information about the different modules used with Autodesk AutoCAD, giving a clearer picture of software use, and actual licensing requirements.
- Xensam has also extended its library of applications to over 500,000, increasing its knowledge of SaaS apps by 50% compared to 2023.
Xensam also achieved SOC2 Type 1 Compliance for its platform. The company continues to invest in data security, data privacy and operational excellence. Achieving SOC2 Type 1 Compliance is a testament to its endeavours.
Powering up Growth
At the start of the year Xensam announced it had raised $40 million from Expedition Growth Capital. At the time, Oskar Fösker, Co-Founder and CEO of Xensam, commented, “We founded Xensam to provide an intuitive platform for software asset management and resource optimization by leveraging AI and automation. Since then, we have grown over 126% year-on-year and demonstrated how innovative, scalable and user-centric technology can deliver exceptional value to customers. We’re thrilled to partner with Expedition Growth Capital to help fuel the next phase of our expansion.”
Since then, Xensam has doubled its employee count. Its careers site notes it has 60 co-workers and has three open positions. It strengthened its leadership by hiring Christoffer Timmas as CFO, Amy Marinari as VP of Sales, and Kristoffer Skagerberg as Director of Engineering.
Customers include the Isle of Wight NHS Trust. It saw £250,000 in software cost savings by cutting underutilized licenses following the information analyzed by Xensam’s Active Usage Data. Xensam helped reconcile information across its hybrid IT environment. It helped to improve security and reduced reporting time down from 3 weeks to 3 hours and 30 seconds with Custom Reports.
Most recently, The Norwegian Research Centre (Norce) rolled out Xensam in less than 10 minutes for its 800 employees. It rapidly discovered SaaS usage within the organization that was not previously known about. For the first time, licenses were accurately mapped to users. Thus improving the cost mapping across a decentralized organization.
Recognition
Xensam also received recognition in 2024. Gartner recognized it in its Market Guide for SAM Tools, the Hype Cycle for I&O Automation 2024, and the Hype Cycle for ITSM 2024. On Gartner Peer Insights it achieved and retains a 5.0 customer rating. Based on 40 ratings, 94% scored it 5 stars, and the remainder 4 stars. On G2 it has not yet received enough reviews to have a buyer assessment.
In October, Xensam won the Highest Growth award and was recognized as the Top 3 Overall Champion in the Main Software 50 Nordics Awards. Fösker commented, “We are thrilled to be recognized by Main Capital Partners as one of the most successful SaaS companies in the Nordics.
“Our innovative AI-powered technology is the engine behind our doubling year-on-year revenue, a global customer base, and exponential growth. We are excited to continue our trajectory of industry innovation as we enter a new phase of rapid expansion.”
Enterprise Times: What does this mean
A solid year of growth, recognized by awards, new customers and product development. As Xensam increases its employee base it will aim to reach a wider audience in 2025. It will no doubt bring out new product capabilities to the market.
It will be interesting to see how quickly it develops a capability to map AI agent credits for Agentic AI usages. This is the latest cost variable that organizations must cope with. While there are few job openings, is it holding back for the start of 2025? Will it post another round of job opportunities to accelerate its growth further? The firm currently has offices in Stockholm and London, with many people working remotely. As it looks to expand internationally, will it open an office in the EU or the US?
