Eldar Tuvey

Eldar Tuvey is co-founder and chief executive of Vertice, a procurement platform that helps companies cut SaaS and cloud spend and manage renewals. He and his brother Roy previously built two cybersecurity companies that sold for a combined total of more than $600 million.

Studying Economics at Bristol

He earned a bachelor's degree in economics from the University of Bristol in 1992 and began his career at Goldman Sachs, according to a Bristol alumni profile. He later moved into building software companies with his brother Roy, also a Bristol graduate. In 2022 the brothers received Bristol's Alumni Award for Business and Industry.

Exiting Two Cybersecurity Startups

Together they co-founded ScanSafe, a hosted web-security service later acquired by Cisco for about $200 million, and Wandera, a mobile security company acquired by Jamf for about $400 million, as he recounted in a Q&A with Pure Procurement. Those years put him on both sides of enterprise software sales: pitching vendors and buying tools to run fast-growing teams.

Feeling the Drag of Buying Software

As ScanSafe and Wandera grew, renewing and negotiating software became a drag on the people who should have been building the product. Tuvey also saw huge price gaps for the same tools. "I'm not proud of it, but we knew that some of our customers were paying five times more than another customer for the same thing," he told Pure Procurement. In late 2021 he and Roy founded Vertice to put buyers on more equal footing.

Opening Vertice Around Pricing Data

In a 2022 Vertice blog post, he wrote that a typical business overspends 20 to 30 percent a year on SaaS and that finance teams lack the time and data to renegotiate well. Vertice gathers vendor pricing benchmarks and negotiates on the buyer's behalf, and Tuvey has insisted the firm stay aligned with buyers rather than vendors.