SaaS management platform Zluri raises $10M

A SaaS (software as a service) offering is usually associated with easier access and management of a tool. Unfortunately, sometimes the services that are supposed to make working life easier make it the opposite.

This issue has facilitated the growth of SaaS management platform Zluri. In fact, Zluri has grown over 100% month on month since its inception in 2020 and attracted over 100 new customers globally in 2021.

Zluri’s SaaS Management platform helps companies discover, manage and optimize, secure and automate SaaS applications from a single dashboard.

The platform has now has raised $10 million in a Series A round of funding led by MassMutual Ventures. The investment also had participation from existing investors, Endiya Partners and Kalaari Capital. Both Endiya Partners and Kalaari Capital had contributed to $2 million in January 2021.

How will Zluri spend the investment?

The investment will be used to further the capabilities of the tool and double the headcount of teams in North America and Asia. On the back of this, it is hoped that the value of the company can continue to rise.

Ritish Reddy, co-founder, Zluri, discussed the investment: “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.”

Speaking for MassMutal Ventures, managing director, Anvesh Ramineni 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. 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.”

Sateesh Andra, Managing Director at  Endiya Partners also noted the potential for Zluri to grow and discussed the fact that “SaaS adoption has grown exponentially amidst enterprise digitalization in the post-pandemic world across SE Asia, MENA, APAC regions.”

Time will tell how successful this investment is, but given the current state of the SaaS market it is easy to see why there is so much enthusiasim around Zluri.