Suger, a San Francisco, CA-based provider of a sales platform for cloud marketplaces, has raised $3.5 million in funding.
The round included a $2.5 million seed round co-led by Craft Ventures and Intel Capital and $1 million in pre-seed funding from investors, including Y Combinator.
Craft Ventures is a venture capital firm based in San Francisco that makes early-stage venture investments. Founded in 2017, the firm prefers to invest in business products, business services, consumer products, consumer services, information technology, e-commerce, SaaS, cryptocurrency, and blockchain sectors.
Founded in 1991, Intel Capital is the corporate venture capital arm of Intel, based in Santa Clara, California. The firm seeks to invest in early-stage startups across four key areas of the compute tech ecosystem which includes silicon, frontier, devices, and cloud.
Y Combinator is an accelerator firm that prefers to invest in b2b software and services, education, consumer, healthcare, real estate and construction, financial technology, industrials, and government sectors. Founded in 2005, it is based in Mountain View, California.
Suger Use of Funds
The company plans to use the funds to expand and refine its product offering to span the entire pipeline, from the trial phase and opportunity sharing with cloud providers' massive sales network to procurement and post-sales on the marketplace.
Founded in 2022 by Chengjun Yuan and Jon Yoo, Suger is a marketplace platform to manage product listings, offers, contracts, metering, and billing. Suger.io’s SaaS technology helps infrastructure and platform companies sell and co-sell through cloud marketplaces on AWS, Azure, GCP, Alibaba Cloud and Redhat Cloud. They provide no-code setup and unified APIs to list products, manage pricing, make private offers, track product usage, and process billing across multiple cloud marketplace channels for B2B sellers. Its customers include leading brands and companies from multiple B2B SaaS sectors, including database, infrastructure, security, dev/ops, and more.
Company: Suger, Inc.
Round: Pre-Seed and Seed Round
Funding Month: November 2023
Lead Investors: Craft Ventures and Intel Capital
Additional Investors: Y Combinator
Company Website: https://www.suger.io/
Software Category: Sales Platform