San Francisco-based Suger, a sales platform that manages the full lifecycle of cloud marketplaces, has snapped $3.5 million in funding. The investment includes a $2.5 million seed round co-led by Craft Ventures and Intel Capital, and $1 million pre-seed funding from investors, including Y Combinator, which backed Take App and Curacel.
The funding will let Suger expand and fine-tune its product offering to span the entire pipeline from trial phase and opportunity sharing with cloud providers’ massive sales network to procurement and post-sales on the marketplace.
Transforms cloud marketplaces
Co-founded by Chengjun Yuan and Jon Yoo in 2022, Suger lets SaaS businesses sell and co-sell on multi-cloud marketplaces. It transforms the cloud marketplace by enabling platform deployment to occur immediately since platforms are already hosted in the cloud.
Typically, sales and alliance teams face months of engineering and operational challenges to be transaction-ready, especially for companies with usage-based pricing and product-led growth models. Suger cuts this months-long process down to weeks via automation and provides the abstraction layer to connect its customers’ internal systems to all B2B marketplaces.
Suger automates the workflow around cloud marketplace listing/selling, helping B2B SaaS companies sell on cloud marketplaces like AWS, Microsoft Azure and Google Cloud. As a B2B sales channel, Suger is claimed to be the only API-first, enterprise-integrated software solution for the cloud marketplace that helps companies accelerate cloud revenue and automate sales/operational workflows, enabling customers to cut operations cost by 90%.
“Building on the cloud translates to buying and selling through the cloud. Historically the billing infrastructure needed for this process has been manual, expensive, and disjointed,” said Jon Yoo, CEO and Co-founder of Suger. “Suger has solved this problem by automating core workflows for cross-functional teams to reinvent their GTM sales and revenue strategy on cloud marketplaces, serving as the missing last-mile solution.”
“Selling products on cloud marketplaces is crucial for businesses today, yet it can be a difficult and lengthy process that ends up costing businesses in the long run,” said Mark Rostick, Vice President and Senior Managing Director at Intel Capital. “Suger has created a cutting-edge solution that solves this massive pain point and will enable the cloud marketplace sector’s growth to skyrocket.”