SUMMARY
The funds will be used for product innovation and penetration into new geographies
The startup claims to be empowering businesses to make changes and modifications in the pricing models
Togai enables B2B enterprises adopt, automate, and iterate any pricing changes
SaaS metering and pricing platform Togai has raised $3.1 Mn in a seed funding round led by Together Fund, along with participation from BoldCap, Core91 VC. Prasanna Shankar, the cofounder of Rippling also participated in the round.
The startup stated that the funding will be used for product development and expansion across new geographies.
Founded in 2023 by Abhishek Rajagopal, Aravind Sriraman, and Tholkappiyan Velavan, Togai crafts monetisation tools for the new age dynamic billing and pricing landscape.
Commenting on the investment, Rajagopal said, “We are poised to continue our journey in building end-to-end monetization solutions for this burgeoning segment and any B2B entity seeking to implement pricing changes to drive growth and profitability. Furthermore, we are excited to expand our reach to additional territories.”
The startup claims to be empowering businesses to make changes and modifications in the pricing models, hence helping them in the competitive market.
In a blog post, Togai states, “We help B2B companies adopt, automate, and iterate any pricing changes. By connecting to existing quote-to-cash systems, Togai enables ‘no-cod’ pricing changes, making the process lightning-fast and hassle-free.”
According to Togai, before making any decision on pricing, it is essential to analyse its possible impact on sales, revenue, profitability, and customer behaviour. This calls for robust reporting and data analysis capabilities to gain valuable insights and make informed decisions for further pricing optimisations.
In the official statement, Togai quotes a McKinsey report stating that pricing has a significant impact on a company’s financial health, as even a 1% improvement in pricing can lead to over an 8% increase in profitability.
In a report, CNBC TV18 stated that in India, the B2B market is twice the size of the B2C market, and contributes to about two-thirds of the $3 Tn economy of India.
Meanwhile, Statista’s findings state that the SaaS segment is projected to reach $2.15 Bn in 2023. The market is further expected to rise by 10.87% CAGR between 2023-2027, resulting in the $3.25 Bn market volume.
Last month, we reported about B2B SaaS supply chain startup Pando raising $30 Mn in its Series B funding round led by venture capital (VC) firm Iron Pillar.
Yet another SaaS startup in the healthcare segment, THB raised 20 Mn funding in a growth equity round led by Filter Capital and Edelweiss Discovery Fund Series – I.
In the year 2022, the SaaS startup segment raised $4 Bn across 303 deals.
