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Funding

Subscriptions management startup Subble kicks off $1 million pre-Seed

- June 3, 2024 2 MIN READ
Jaedon Farrugia, Nathan Mackinnon, Jesse Duffield.
Subble cofounders Jaedon Farrugia, Nathan Mackinnon and Jesse Duffield.
Business software subscriptions management platform Subble has raised $1 million in a pre-Seed round as it goes to market.

The raise was backed by entrepreneurs Jordan Walsh and Leon Hayes from Haystack Capital to support product refinement and customer expansion.

The Melbourne startup gives business execs improved visibility over their SaaS subscriptions for greater control of who uses them and to reduce unnecessary costs.

Amid nearly $200 billion in global software expenditure, around a quarter is estimated to be under-utilised or over-deployed.

Cofounder and CEO Nathan Mackinnon, was previously head of product at proptech ActivePipe, which was acquired in 2022. He cofounded Subble with former ActivePipe employees, Jesse Duffield, developer of open-source engineering tool, Lazygit, and Jaedon Farrugia, operations executive with a track record building and scaling international teams.

Mackinnon was inspired to develop the tech after seeing friends fall victim to cost-cutting initiatives in a business.

“Seeing talented individuals lose their jobs while their employers were wasting money on unused technology was a wake-up call for me,” he said.

“With Subble, we’re empowering businesses to improve operational efficiency and profitability through smarter software management.”

Subble uses a mix of expert analysis and AI to help companies uncover insights around the software subscriptions to reduce costs and improve security.

“Software is often the second biggest expense after salaries, and most business leaders are shocked to see just how much is wasted,” Mackinnon said.

“By simply shining a light on the unused licences, we can surface significant savings just minutes after setting up their account.”

Haystack Capital’s Leon Hayes said it was an easy decision to back Subble

“The platform addresses a critical pain point for businesses and has the potential to revolutionise how organisations manage their software assets,” he said.

“We’re confident that with our investment, Subble will continue to innovate and drive significant value for its customers and investors.”

Another startup, the proptech PropertyMate, is already a fan, with CEO James Fitzgerald saying its a fantastic tool.

“After setting up with Subble, we saved 33% on our Google Workspace subscription in just one day,” he said.

2 Dam Creative founder Steve Brendish said the platform helped him save $12,000 a year by cutting out unnecessary subscriptions.