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Stigg raises $17.5M to modernize software monetization as AI reshapes SaaS pricing
Saturday, December 14, 2024
The Series A funding will be used to fuel the company's global expansion and build out its go-to-market organization in New York
TEL AVIV, Israel, Dec. 11, 2024 /PRNewswire/ -- Stigg, the first unified monetization platform for engineers, announced today $17.5M in series A funding, led by Red Dot Capital Partners, with participation from Unusual Ventures, Emerge Ventures, Redseed, and Cerca Partners. This funding brings the company's total investment to $24M. The company has seen remarkable growth in 2024, increasing its revenue and customer base, which now includes industry leaders like Miro, Webflow, AI21 Labs, and PagerDuty. Managing billions of API calls and tens of millions in monthly subscriptions, Stigg has become the trusted monetization infrastructure for companies looking to modernize their stack, and iterate and launch new GTM models faster.
The rapid adoption of generative AI in SaaS products and intensifying market competition are fundamentally changing how software is sold. Companies need to support multiple revenue channels simultaneously while racing to launch AI-powered features that demand new monetization approaches -- from consumption-based pricing and AI credits to hybrid models combining subscriptions and usage. Traditional billing systems, often integrated into software products in an ad hoc manner, force engineering teams to spend quarters or years implementing complex changes across billing infrastructure, CRMs, and product experiences.
Stigg is the first solution that allows developers to build granular access control at the feature level (Entitlements) using an extremely flexible domain model and friendly APIs. Through a single API, Stigg seamlessly connects with existing billing providers, CRMs, pricing pages, and product experiences, allowing companies to instantly deploy new monetization strategies from a single platform. With full control over pricing models and future-proof architecture, companies can launch AI features with optimal pricing from day one, experiment with different strategies risk-free, and scale without encountering engineering bottlenecks.
"The idea of a monolithic billing system is a legacy concept that slows down business growth," said Dor Sasson, CEO and co-founder of Stigg. "Today's companies need the flexibility to serve different market segments differently, especially as they layer in AI capabilities and expand into new channels. We're giving engineering teams the infrastructure to help their businesses move faster, transforming them from roadblocks into enablers of growth. After adopting Stigg and rapidly deploying new pricing models and AI features, our clients massively exceeded their quarterly revenue targets --that's the power of getting monetization infrastructure right."
"We're seeing first-hand how companies are struggling to adapt their monetization infrastructure to support new business models and AI-powered features," said Atad Peled, Partner at Red Dot Capital Partners. "Through our portfolio companies and extensive market research, we recognized that Stigg's technology addresses a critical pain point that's only growing more acute. The company's zero churn rate and strong customer momentum demonstrate that they've built something truly essential for modern software companies."
"When we launched Miro's AI-powered Innovation Workspace, Stigg's metering capabilities played an important part," said Susan van de Ven at Miro. "The solution enabled us to provide admins with full transparency on their organization's usage. This insight is vital to ensuring that customers get maximum value from their use of Miro's AI tools."
At its core, Stigg is built on a powerful entitlement management API that handles feature configuration, metering and access control. Through a set of SDKs and sidecars, engineering teams can easily model any feature or functionality within their product that can potentially be monetized. Companies can then flexibly define and organize their offerings across products, plans, packages, and add-ons with no code changes required. Rather than cobbling together custom solutions using feature flags and data pipelines, companies get a unified system of record that orchestrates changes across their entire GTM stack, enabling rapid experimentation and optimization.
Media Contact
Lazer Cohen
lazer@concrete.media
347-753-8256
View original content:https://www.prnewswire.com/news-releases/stigg-raises-17-5m-to-modernize-software-monetization-as-ai-reshapes-saas-pricing-302329067.html
SOURCE Stigg
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