The First Scalable Monetization Platform for the Modern Billing Stack
Stigg, a startup that has been making waves in the tech industry, describes itself as "the first scalable monetization platform for the modern billing stack." But what does this mean, exactly? In simple terms, Stigg is a platform that helps SaaS companies model pricing, create pricing pages, decide (and change) which features and usage allotments should go with which pricing plan, manage customers, and more. It’s an all-in-one solution for businesses looking to modernize their billing stacks.
A Gap in the Market
The idea for Stigg was born out of a gap in the market that its founders saw while working together at New Relic. "I was leading the AI machine learning product line at New Relic," said Dor Sasson, co-founder and CEO of Stigg. "Anton was building together with me, and we were the first team that was involved in trying to monetize AI for the first time." The duo quickly realized that there was a need for a more efficient and scalable way to manage pricing and billing for SaaS companies.
The Challenge of Pricing and Billing
Pricing and billing are complex issues for SaaS companies. "Traditionally software is being sold with a subscription-based model — with, sometimes, a little bit of consumption layered onto it," said Sasson. However, the advent of AI-based features is changing this landscape. Many SaaS companies are now looking to introduce outcome-based pricing concepts or work-based pricing concepts.
The Problem with Hard-Coded Configurations
One major problem that SaaS companies face when trying to modernize their billing stacks is hard-coded configurations. These configurations make it difficult to change pricing plans and entitlements without having to rewrite a lot of code. This adds friction to the process, making it slow and inflexible.
Stigg’s Solution
Stigg aims to solve this problem by providing a management console that lets go-to-market teams make changes to pricing plans without needing to get developers involved. The platform also offers an SDK that is available in most popular languages, allowing engineers to build the right tooling for their needs.
The Importance of Decoupling Dollars and Commercial Concepts
According to Sasson, the key principle behind Stigg is to start decoupling dollars and commercial concepts from hard-coded configurations related to actual features and usage. This allows engineering teams to help businesses introduce new ways to package and model software without worrying about the downstream implications.
The Future of Monetization
Stigg’s founders are confident that their platform will revolutionize the way SaaS companies approach monetization. With its scalable architecture and easy-to-use management console, Stigg is poised to become a leader in the industry.
Investment and Partnerships
In 2021, Stigg raised $6.4 million in seed funding from institutional investors like Unusual Ventures and Emerge Ventures, as well as prominent angel investors. The company has since secured an additional $17.5 million in Series A funding led by Red Dot Capital Partners.
Users and Market Reach
Stigg counts AI21labs, Cloudinary, PagerDuty, Miro, and Webflow among its users. The platform’s scalability and ease of use have made it a popular choice for SaaS companies looking to modernize their billing stacks.
Conclusion
Stigg is a game-changing solution for the SaaS industry. Its scalable architecture and easy-to-use management console make it an attractive option for businesses looking to modernize their billing stacks. With its focus on decoupling dollars and commercial concepts from hard-coded configurations, Stigg is poised to revolutionize the way SaaS companies approach monetization.
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