Zluri, a US-based comprehensive SaaS Operations (SaaSOps) management platform for IT teams, has raised USD 10 million in a Series A funding round led by MassMutual Ventures on 10 January 2022.
Investors: MassMutual Ventures led the latest funding round with participation from existing investors Endiya Partners and Kalaari Capital.
The Objectives behind the funding: The company plans to deploy the current proceeds to continue its growth momentum and further strengthen its product capabilities. The startup plans to double down the teams in core markets in Asia and North America.
Founded in 2020 by Ritish Puttaparthi, Chaithanya Yambari and Sethu Meenakshisundaram, Zluri is a comprehensive SaaS Operations (SaaSOps) management platform for IT teams. It helps IT teams Discover, Manage, Secure, and Comply across multiple SaaS applications, all from a single dashboard. In short, Zluri puts the IT team back in control of their new SaaS-ified landscape. The company’s platform helps to reduce SaaS risks, eliminate SaaS wastage, and automate IT tasks, enabling companies of all sizes to accelerate innovation and derive real value from their subscription-based software stack without any hassle. The startup has added over 100 new customers from North American and Asian markets in the past year.
What the Founder has to say:
Commenting on the event, Ritish Reddy, Co-founder, Zluri, said, “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 organisation, thus helping them manage, optimise 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.”
What the Investors have to say:
Anvesh Ramineni, Managing Director at MassMutual Ventures, added, “Orchestrating SaaS applications in organisations and helping them maximise 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 a global leader in this category.”
“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.
For more extensive analysis and Market Intelligence reports feel free to approach us or visit our website: Venture Capital Market Intelligence Reports | VCBay.
We try our best to fact-check and bring the best, well-researched, and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by!