Zluri raises $10 million
SaaS management platform Zluri has raised $10 million in a Series A round of funding led by MassMutual Ventures with participation from existing investors, Endiya Partners and Kalaari Capital.
Founded in 2020, the San Francisco-based startup helps organizations discover, manage, optimize, and automate their SaaS applications from a single dashboard. For example, Zluri’s platform can monitor user usage, helping companies save money if they are paying for multiple licenses that aren’t being utilized. It can also help with discovery of SaaS applications – the startup claims to have the most comprehensive application discovery engine in the industry.
Zluri plans to use the capital to further strengthen its product’s capabilities, as well as growing its presence in core markets in Asia and North America.
“We are thrilled to welcome Mass Mutual Ventures as our new partner through this Series A funding. Over the last 12 months we have seen global adoption of SaaS Management Platforms increase at an accelerated pace. Our rapid growth in the category can be attributed to our product innovation and unparalleled customer support. We have made significant investments into our one-click automation engine, which helps IT Teams streamline and automate workflows across the organization thus helping them manage, optimize and secure their technology stacks effectively. We will continue our investments to extend our lead in this space and the current round of funding will help us further accelerate our global growth and product innovation.” – Ritish Reddy, cofounder, Zluri.
“Orchestrating SaaS applications in organizations and helping them maximize ROI on continually increasing SaaS spend is a large problem statement that requires significant operational effort from IT Teams. With an industry-leading SaaS Management Platform, Zluri is well positioned to help enable this across enterprises. We are very excited to back Ritish, Sethu, Chaithanya and the Zluri team and look forward to supporting them on their vision of building global leader in this category.” – Anvesh Ramineni, managing director at MassMutual Ventures.
“SaaS adoption has grown exponentially amidst enterprise digitalization in the post-pandemic world across SE Asia, MENA, APAC regions creating a huge opportunity for SaaS Management Players. Zluri, with a Best-in-Class product, will definitely emerge as a category leader in the region as well as the global market and reach the pole position in the near future.” – Sateesh Andra, managing director at Endiya Partners.
“Ritish, Sethu and Chaithanya have shown stellar execution in one of the fastest growing sub-sectors in SaaS. They have a deep understanding of the problem faced by enterprises in managing their software spend and have a product first approach to solving the problem. I am very excited by the potential that Zluri has shown to be a leader in the SaaS Management Space.” – Vani Kola, managing director at Kalaari Capital.
