SaaS Management Platform Zluri, has raised US$10M in a Series A round of funding led by MassMutual Ventures with participation from existing investors, Endiya Partners and Kalaari Capital.
Zluri had previously raised US$2M, from Endiya Partners and Kalaari Capital, in its seed round in January 2021. The company plans to use the additional capital to continue its growth momentum and further strengthen its product’s capabilities. In addition, the company plans to double down the teams in core markets in Asia and North America.
Today, companies across the globe are adopting SaaS applications. While it is easy to buy a SaaS application, managing these applications is a huge challenge for companies, given the volume of SaaS tools that they are adopting. While the IT spend is increasing on these tools, the usage and utilization of these investments remain a challenge.
Zluri’s comprehensive SaaS Management platform for IT teams helps companies Discover, Manage and Optimize, Secure and Automate SaaS applications from a single dashboard. Zluri puts the IT team back in control of their new SaaS-ified landscape. Zluri has the most comprehensive application discovery engine in the industry and the largest library of over 600 in-depth direct integrations.
Zluri has added over 100 new customers from North American and Asian markets in the past year and includes large brands such as Chargebee, MoEngage, Guesty and Whatfix as customers. Zluri has recently been awarded G2 High Performer Winter 2022 and Most Recommended tool in the SaaS Management Platform category by Software Advice for 2021.
Zluri was founded in 2020 by Ritish Puttaparthi, Sethu Meenakshisundaram and Chaithanya Yembari. All three co-founders worked together at Knolskape, for a considerable amount of time and have a deep and shared passion for building and scaling companies.
Ritish Reddy, Co-Founder, Zluri, said, “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.” The rapid growth in the category can be attributed to their product innovation and unparalleled customer support.
Reddy added that “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.” Zluri will continue its investments to extend its lead in this space, and the current round of funding will help them further accelerate its global growth and product innovation.
Anvesh Ramineni, Managing Director at MassMutual Ventures, added, “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. Ramineni stated that “we are very excited to back Ritish, Sethu, Chaithanya and the Zluri team and look forward to supporting them on their vision of building a global leader in this category.”
“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,” commented 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,” said Vani Kola, Kalaari Capital.
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Zluri is an enterprise SaaS Management Platform (SMP) for IT Teams. It helps organizations discover, manage & optimize, and automate their SaaS Applications from a single dashboard. In short, Zluri puts the IT teams back in control of their new SaaS-ified landscape.
About MassMutual Ventures
MassMutual Ventures (MMV) is a multistage global venture capital firm investing in enterprise software, cybersecurity, financial technology, and digital health companies. With our deep expertise and extensive Fortune 500 network, MMV helps entrepreneurs build compelling and scalable companies of value. MMV has offices in Boston and Singapore, with $450 million under management.
About Endiya Partners
Endiya Partners is an early-stage venture capital fund that invests in Indian product start-ups that are globally relevant. Leveraging deep domain expertise along with vast entrepreneurial and operating experience, the Endiya team plays a key role in co-creating scalable businesses. Endiya’s portfolio consists of disruptive and category-defining companies across SaaS, Fintech, Deeptech, and Healthcare sectors. Founded in 2015, Endiya Partners has $100M under management.
About Kalaari Capital
Kalaari Capital is an early-stage, technology-focused venture capital firm based out of Bengaluru, India. Since 2006, Kalaari has empowered visionary entrepreneurs building unique solutions that reshape the way Indians live, work, consume and transact. The firm’s ethos is to partner early with founders and work with them to navigate the inevitable challenges of fostering ideas into successful businesses. At its core, Kalaari believes in building long-term relationships based on trust, transparency, authenticity, and respect.