In the bustling tech landscape, San Francisco's Suger has just hit a sweet spot, securing a substantial $3.5 million in funding to propel its cloud marketplace management platform to new heights. Craft Ventures and Intel Capital took the lead in a $2.5 million seed round, accompanied by an additional $1 million in pre-seed funding from notable investors, including the renowned Y Combinator, known for its backing of Take App and Curacel.
Founded by Chengjun Yuan and Jon Yoo in the tech-centric year of 2022, Suger is poised to revolutionize cloud marketplaces, offering a comprehensive solution that spans the entire lifecycle. This funding injection serves as the catalyst for Suger to refine and expand its product suite, covering everything from the initial trial phase to procurement and post-sales on the marketplace.
Suger stands at the forefront of change, empowering SaaS businesses to navigate and co-sell seamlessly on multi-cloud marketplaces. The game-changing aspect lies in its ability to streamline platform deployment instantly, bypassing the traditional hurdles of lengthy engineering and operational challenges faced by sales and alliance teams.
Automating workflows around cloud marketplace listing and selling, Suger becomes the go-to platform for B2B SaaS companies looking to thrive on major cloud marketplaces like AWS, Microsoft Azure, and Google Cloud. An API-first, enterprise-integrated software solution, Suger not only accelerates cloud revenue but also slashes operational costs by a whopping 90%.
Jon Yoo, the CEO and Co-founder of Suger, sheds light on the transformative power of the platform: "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. 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."
Mark Rostick, Vice President and Senior Managing Director at Intel Capital, recognizes the game-changing potential of Suger: "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. Suger has created a cutting-edge solution that solves this massive pain point and will enable the cloud marketplace sector’s growth to skyrocket."