The startup has a database of 14,000 software vendors and over 5,000 verified technology executives using its platform. Sagetap aims to differentiate itself by offering a targeted service powered by AI and facilitating direct, anonymous interactions between buyers and sellers. However, it faces the challenge of building liquidity and reaching critical mass on both sides of its marketplace. The seed funding round was led by NFX, with participation from Uncorrelated Ventures, and Emergent Ventures.
Key takeaways:
- Sagetap, an AI-driven startup, has raised $6.8 million in seed funding to build a marketplace for enterprise software procurement.
- The platform uses AI to match technology executives with relevant software vendors, based on their specific needs and initiatives.
- Sagetap has a database of 14,000 software vendors and over 5,000 verified technology executives using its platform, including from companies like Nvidia, JPMorgan and Airbnb.
- The startup's seed funding round was led by NFX, with participation from Uncorrelated Ventures, Emergent Ventures, and $1 million from its own customers, indicating confidence in its early traction.