Suger Lands $15M in Series A to Automate Cloud Marketplace Workflows

Today, we’re thrilled to announce our $15 million Series A funding, led by Threshold Ventures, with participation from new investors, Celero Ventures, GSBackers, and Matt McIllwain, and existing investors, Craft Ventures, Intel Capital, Y Combinator, and Pioneer Fund. This round follows our $3.7M seed round, bringing our total funding to $18.7M to date.

It’s been an exciting journey since our seed round in mid 2023. During 2024, we more than quadrupled our revenue as we welcomed 200+ customers such as Snowflake, Intel, Glean, 1Password, Airtable, Vanta, and Fivetran. 

Evolving problems to evolving space

Since cloud marketplaces have become mainstream, we’ve learned companies spend too much time on mundane tasks such as integrating CRM and ERP systems to marketplaces, managing end-to-end contract lifecycles, and validating / recognizing metered usage / revenue.

The process becomes even more complex in enterprise where different teams manage different workflows. We experienced this firsthand at larger orgs such as Salesforce and Confluent where business systems struggled to keep up with addition of new sales and procurement channels. 

Teams get stuck in a never-ending loop of copy-pasting, unmanaged automations, and makeshift workflows that feel more like a DIY project than a growth strategy.

Mo channels, mo problems.

Suger approach

Suger’s AI-powered platform automates the entire quote-to-cash process which streamlines fulfillment for software products, and frees go-to-market teams from engineering and operational burdens. We provide enterprise-grade intelligent workflows customizable to our customers’ needs.

Our users can elevate themselves from mundane manual tasks to truly driving cloud partnerships and marketplace transactions. 

And it’s working! On average, our customers saw a 3x increase in marketplace deal volume and 140% higher contract values once they switched to us from other tools and DIY solutions. 

The Future

With this new round of funding, Suger will continue to make significant R&D investments to deliver a unified ecosystem of cloud forward procurement. 

What about AI? There’s endless data at every stage of a deal cycle to transform how our users can partner better with internal stakeholders and external partners. Expect to hear a lot more about our AI powered workflows very soon!

Raising a Series A is just a milestone and our journey has only just begun. It’s still the early days of cloud marketplace procurement, but the potential is very clear – We’re excited to build a future where every software transaction is frictionless, bringing an e-commerce experience to B2B sales. 

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If you’re interested in playing a role in our next chapter, we’re hiring. 

If you’re interested in exploring why high-growth companies are excited about Suger, schedule a time to talk with our team.