Large companies use over 1,100 SaaS applications to run their operations. The number of companies adopting this trend is rapidly growing by 20% every year. However, this presents a number of risks.
The rapid expansion of SaaS products in large companies poses significant challenges for IT and security teams, making it increasingly difficult to manage and orchestrate SaaS operations. Alongside this, the unstoppable wave of enterprise digital transformation, led by generative AI, swift cloud adoption, and the rise of distributed remote workforces, is ushering in a new era of complexity in SaaS operations.
India-based SaaS operations (SaaSOps) platform Zluri is helping them manage their SaaS estates and mitigate risks. Now, the company has raised $20 million in a Series B funding round. Led by Lightspeed (that backed Wondermind and Mistral AI), the round saw participation from existing investors, including MassMutual Ventures, Endiya Partners, and Kalaari Capital.
This round follows the $10 million Series A round that was raised back in January 2022. With this, the company has now raised $32 million in total funding to date.
With the new funding round, Zluri will expand Generative AI capabilities in enterprise SaaSOps with its CoPilot, an intelligent assistant to boost efficiency and productivity across enterprises using no-code workflows. Zluri has built a custom large language (LLM) model trained on billions of data points encompassing a wide range of attributes.
Zluri’s expansion plans include continuing to scale go-to-market teams in North America and Europe to reinforce their presence in strategic markets and fostering closer collaboration with customers. By establishing a stronger global footprint, it aims to provide exceptional support to its growing customer base while actively seeking opportunities to forge new partnerships and drive innovation in the realm of SaaS management and Identity governance.
“We are excited to partner with the Zluri team as they revolutionize SaaS management and identity governance for large enterprises and mid-market firms in the US and globally. They have demonstrated strong market traction, driven by an innovative architecture addressing the twin drivers of cybersecurity and pressure on IT to reduce cost,” added Dev Khare, Partner, Lightspeed
“ARC is a group of 16 unique companies with varying tech stacks. Zluri has enabled us to understand usage and uncover shadow IT so that we can understand which tools are being used per capability. They have also helped us cross-reference our spending against usage which helps us determine which SaaS apps are giving the most business value. We are currently in the process of connecting our HR system to allow for automatic provisioning/de-provisioning of SaaS apps and licenses. It has been a great tool for us and we look forward to a long partnership working together,” said Kyle Hitchcock, Head of IT, ARC Group.
Transition to SaaS made seamless
Zluri was founded in 2020 by Ritish Puttaparthi, Sethu Meenakshisundaram and Chaithanya Yembari. It wants companies of all sizes to accelerate innovation and derive real value from their subscription-based software stack without the hassles that come along. Also, Zluri wants to simplify the world’s transition to SaaS by helping companies adopt and operate an efficient software stack through a single intelligent dashboard.
The company’s comprehensive SaaSOps platform for IT teams helps companies discover, manage, optimise, secure, and automate SaaS applications from a single dashboard. In addition to this, the Identity Governance tool will help teams streamline on/off-boarding, access request management, and offer access audits.
The new Zluri CoPilot feature will help teams converse with their data and create workflows, making offboarding users much more efficient.
Currently, the Indian startup works with over 250 customers globally, including prominent names such as Monday.com, Tipalti, Whoop, Catapult Sports, Razorpay, Smartnews, Amagi, Daxko, Traveloka, etc.
