Sagetap Raises $6.8M for First AI-Driven Marketplace Matching SaaS Buyers and Sellers
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.
Sagetap, the first AI-driven marketplace matching SaaS buyers and sellers, 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.
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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.”
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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.
