Cacheflow Announces $10 Million in New Funding Led by GV to Radically Shorten Sales Cycles
This most recent round of funding will empower Cacheflow to scale its unique propose-to-close solution and Glenn Solomon from GGV is the company’s newest Board member
LOS ALTOS, Calif., December 06, 2022--(BUSINESS WIRE)--Today, Cacheflow, the zero-code SaaS sales platform, is announcing a new $10 million investment round led by GV (formerly Google Ventures). Existing investors GGV and Pelion Ventures also participated. Cacheflow has raised $16 million to date. The new funding will accelerate Cacheflow’s sales and marketing efforts, enabling the company to reach sellers in need of its SaaS deal-closing platform.
The Cacheflow solution targets businesses in every stage of growth, from startup to enterprise, as companies of all sizes increasingly rely on software. Slow, cumbersome deals mean that money is left on the table when customers inevitably need to walk away after weeks or months of back-and-forth. CRM, lead tracking, and e-signature tools can only go so far as to alleviate the stumbling blocks in the sales process. Before Cacheflow’s launch, there was no comprehensive end-to-end sales solution to manage and grow the revenue lifecycle of the customer.
Cacheflow’s solution simplifies the SaaS sales flow, integrating it into a single, no-code platform. It lets sales teams generate dynamic quotes in seconds and streamlines the buying process with simple configuration, interactive B2C-style checkout, and integrated payments. The Cacheflow solution decreases closing times from weeks or months to mere hours, and customers see 3X faster closes even during these difficult times.
"Cacheflow is a CPQ, closing, and billing system for us. We close deals from across the world, and with Cacheflow, we can speed up closing and handle payments easily in a single platform," said Sprinto co-founder and Cacheflow customer Raghuveer Kancherla.
Besides tracking and sending proposals to new leads, Cacheflow also helps customers grow their revenue through upsells, expansions and cross-sells on existing contracts and MSAs.
Cacheflow was founded in 2021 but has already attracted significant attention from customers and investors alike. Cacheflow’s newest board member, Glenn Solomon, an early investor in Cacheflow, led their $6M fundraising round in 2021. Solomon is recognized as one of the top 100 VC investors by Forbes, investing in several groundbreaking category creators such as Airbnb and Slack.
"Cacheflow’s approach simplifies the end-to-end selling process for enterprise software companies, presenting a meaningful opportunity to improve the SaaS customer experience," said GV Partner and Cacheflow Board Observer Crystal Huang. "The Cacheflow team has deep expertise at the intersection of procurement, enterprise software, and fintech. We’ve been impressed with the speed of execution and existing product traction and believe the team is well-positioned for the next phase of growth."
"Our customers are seeing significant sales velocity and operational benefits from using Cacheflow," said Cacheflow CEO and Co-Founder Sarika Garg. "These benefits are key in the current macro environment. We are excited to partner with GV, GGV, and our other investors to bring these benefits to ever more startups."
Founded in 2021, Cacheflow’s mission is to make the software selling (and buying) experience easier and more delightful. Cacheflow is a deal-closing platform that radically shortens sales cycles and automates the manual work involved in managing revenue.
Cacheflow is backed by GV and GGV, is headquartered in Los Altos, California. Co-founders Sarika Garg and Brian Zotter bring 20+ years of B2B SaaS experience from Salesforce, Ariba, and various startups. Learn more at www.getcacheflow.com.
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Contact: Steve Moskovitz