Sagetap Raises $6.8M for First AI-Driven Marketplace Matching SaaS Buyers and Sellers

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May 28, 2024, 08:32 ET

Sagetap uses AI to match tech executives with the optimal software vendors. Thousands of tech executives from organizations like Nvidia, JP Morgan Chase, Kaiser Permanente, and AirBnB use Sagetap to find the best and most relevant new SaaS tools to adopt.

SAN FRANCISCO, May 28, 2024 /PRNewswire/ -- Sagetap, the first AI-driven marketplace matching SaaS buyers and sellers, today announced $6.8M in funding from NFX, Uncorrelated Ventures, Emergent Ventures, and 15 active customers. The company is cash-flow positive and has grown revenue 3X YoY.

Built for busy executives overwhelmed with sales outreach from the explosion of B2B software vendors, Sagetap offers AI-powered product recommendations, one-click demo scheduling, and anonymity controls to block unwanted follow-ups.

Sagetap maintains a database of the most innovative AI startups by aggregating buying activity from their network of tech executives, partnerships with the VC community, and analyzing thousands of technical demos happening on the platform each month.

Their recommendation engine allows tech executives to instantly identify the very best products for new initiatives or upcoming SaaS renewals, ensuring they are selecting the best tools in just a fraction of the time.

"Tech buyers are inundated with cold outreach from vendors, while startups building great solutions struggle to get the market awareness they deserve," explained Sahil Khanna, co-founder and CEO of Sagetap. "We have the first online platform that helps tech buyers anonymously discover and meet with B2B SaaS startups solving their biggest problems."

According to Gartner, $1 trillion will be spent on software in 2024. With the accessibility of AI, the number of vendors entering the market and the rate of change to these products will drastically accelerate. Sagetap is already observing an explosion in AI infrastructure startups and an appetite from buyers to run POCs.

Sagetap's platform is used by thousands of tech executives working on AI Infrastructure, Cybersecurity, DevOps, Cloud & Data Infrastructure.

Vendors on the platform can pay to set up campaigns to target specific buyers, conduct meetings, and request buyer feedback, which is provided asynchronously on the platform. Vendors on the platform report an average ROI of 3X when looking at closed-won business and their Sagetap spend.

The company plans to use the funding to expand its network of tech executives and further develop its product recommendation engine and decision-support tools for buyers.

Quotes

"Sagetap has built a business with incredible network effects. It becomes increasingly more valuable for buyers and sellers by the day," said James Currier, General Partner at NFX. "I have no doubt in Sahil and Kevin's ability to continue scaling the marketplace and reinventing how SaaS vendors sell."

"Sagetap can comprehend and articulate what is happening across the whole of technology. It understands our challenges and allows us to tap into bleeding-edge tech, without needing to be an expert in each category." - Robin Smith, Aston Martin.

Bionic CMO Stephen Burton shared that his sales team conducted 130 meetings with security executives on the Sagetap platform, resulting in 4X ROI. "If you're confident that your demo resonates and the story is relevant, then you can validate that on Sagetap with unprecedented access to tech buyers. Validation is really indicated by how many buyers convert."

About Sagetap

Founded in 2019 by Sahil Khanna and Kevin Hughes, Sagetap is the B2B SaaS Buying Network designed for busy tech executives looking to stay at the forefront of innovation. Based in San Francisco, the company is trusted by thousands of leading technology leaders at major organizations and high-growth software vendors. Learn more at https://www.sagetap.io/.

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SOURCE Sagetap