Sagetap, the first AI-driven marketplace matching SaaS buyers and sellers, announced $6.8 million in funding from NFX, Uncorrelated Ventures, Emergent Ventures, and 15 active customers. And the company is cash-flow positive and has grown revenue 3 times year-over-year.
Built for executives who are 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 also 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.
The company’s 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.
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. And vendors on the platform report an average ROI of 3X when looking at closed-won business and their Sagetap spend.
The company also 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.
KEY QUOTES:
“Tech buyers are inundated with cold outreach from vendors, while startups building great solutions struggle to get the market awareness they deserve. We have the first online platform that helps tech buyers anonymously discover and meet with B2B SaaS startups solving their biggest problems.”
- Sahil Khanna, co-founder and CEO of Sagetap
“Sagetap has built a business with incredible network effects. It becomes increasingly more valuable for buyers and sellers by the day. I have no doubt in Sahil and Kevin’s ability to continue scaling the marketplace and reinventing how SaaS vendors sell.”
- James Currier, General Partner at NFX
“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
“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.”
- Bionic CMO Stephen Burton sharing that his sales team conducted 130 meetings with security executives on the Sagetap platform, resulting in 4X ROI
