GV Partner Crystal Huang with Cacheflow CEO and co-founder Sarika Garg.
Software is transforming every function in a business, from esoteric back-office functions to customer-facing experiences. One of the most critical (and overlooked) categories in the B2B ecosystem is the software that manages a SaaS vendor’s selling experience. The elements of SaaS selling — software pricing, packaging, invoicing, billing, payments and subscriptions — are complex, and this is compounded by a variety of possible pricing and billing levers, based on usage or tiers, discounting, time-based payment terms, overage fees, and much more. Legacy solutions for CPQ and billing are inflexible, expensive and do not fit seamlessly into modern user experiences. This is why Cacheflow has emerged: to reinvent the way businesses buy and sell SaaS with a simple and delightful buying experience.
We’re pleased to lead a $10 million investment round for Cacheflow, joined by the company’s existing investors GGV and Pelion Ventures. The new funding will help build out Cacheflow’s go-to-market teams, accelerate the delivery of enterprise features and enable investment in partnerships.
The Cacheflow solution targets businesses at every stage, from startup to enterprise. The average company buys 80 pieces of software each year, but the buying and selling experience is still slow and cumbersome. After weeks or months of stumbling through the back-and-forth process — even with CRM, lead tracking, and e-signature tools — customers inevitably walk away, leaving money on the table. Cacheflow’s solution simplifies the SaaS sales flow, incorporating it into a single, no-code platform. It lets sales teams generate dynamic quotes in seconds and streamlines the buying process with simple configuration and interactive B2C-style checkout and integrated payments.
I’ve been deeply impressed by Cacheflow’s team, which has rich experience at the intersection of SaaS, procurement and fintech at companies including Salesforce, Tradeshift, SAP Ariba, C2FO and Clearstory Data. I connected with CEO and co-founder Sarika Garg over a year ago, in the course of looking for innovation in the software CPQ and billing spaces, and have tracked their progress closely. Over the past year, the team has shown strong execution, building out a fairly complete product, going live with happy design customers and building a deep pipeline for the coming year.
We could not be more pleased to partner with the Cacheflow team, and look forward to joining them on the road ahead.