Dear valued customers and partners,
I am thrilled to announce that Gynger has raised $21.7 million in Seed funding to help drive the growth of our business.
After quietly building for over a year, I am incredibly proud of all that our team has accomplished and am eager to bring our innovative solution to the market.
For those unfamiliar with Gynger, we are a software and infrastructure financing platform that helps businesses buy the tools they need to grow. By enabling businesses to purchase these tools with flexible payment terms–regardless of what their vendors offer–Gynger helps them buy the best products for their tech stack while saving money, improving cash flow and extending runway. Over the past year we have financed Slack, DataDog, Braze, Amplitude, Notion, Salesloft, Google Cloud Platform and many more for our customers across the nation.
Our mission is simple: combine software with capital to enable businesses to scale with the technology they love.
Today’s environment is one where every smart founder and CEO is focused on burn, runway and cashflow. Stretching each dollar and maximizing returns on your dilutive capital has never been more important. Valuations are being pushed down while the bar has been raised to secure new rounds of fundraising. The funding environment is getting more challenging for startups around the world. As we enter 2023, budgets will continue to change, and companies will be searching for alternative payment methods to purchase the software they need to run their business. Outside of payroll, software and infrastructure are a company's largest expenses. That's where Gynger comes in - and our timing could not be any better.
I experienced this firsthand while building Braze from the ground up. At first, we needed AWS, Slack, sales tools like Salesloft and Salesforce, marketing tools like Marketo, HR tools like Bamboo and Lattice, and the list goes on. As we grew, so did each department's tech stack. Simultaneously, our dependence on this tech became much more intertwined with our success. It's impossible to launch a company without software and infrastructure. We want Gynger to power your full stack through non dilutive capital.
My team and I have been working hard to build an underwriting model where we can underwrite companies within minutes and have their vendors paid the same day – and we’re doing exactly that. In addition to this, our platform allows companies to manage all of their software contracts and payments in one convenient dashboard. This means that companies can pay on their own terms, and benefit from the best pricing available.
This funding will allow us to enter the market with a healthy balance sheet while expanding our team and further investing in our technology as we enhance our offerings to better serve our customers. We are committed to helping businesses of all sizes access the tools they need to succeed and this marks an important first step in our journey.
I’d like to express my sincere gratitude to our investors, Gradient Ventures, Upper90, Vine Ventures, Quiet Capital, Deciens, m]x[v Capital, and Ben Lang, who have shown faith in our vision and provided the resources to help us bring it to life. We are excited to continue working with you all as we establish Gynger as the go-to platform for businesses seeking to finance their software and infrastructure needs.
To our clients and partners - thanks for believing in us and collaborating with us as our early adopters. Looking forward to growing together.
To the team - thank you for hard work and dedication; we wouldn't be here without you all. We’re building something special here.
We believe that Gynger's solution will revolutionize the B2B SaaS universe, and we are excited to see the impact it will have on the market.
Thank you for your continued support and we look forward to working with you.