Zluri, a San Francisco and Bengaluru-based tech startup focused on SaaS management, has successfully secured $20 million in a Series B funding round. The Funds will accelerate growth and operations in new markets and expand go-to-marketing teams.
Founded in 2020, Zluri has been committed to revolutionizing the enterprise SaaS operations space. Prior to this funding round, the startup had already secured $10 million in a Series A round back in January 2022. Zluri plans to utilize the newly acquired funds to bolster its Generative AI capabilities for enterprise SaaS operations.
Ritish Reddy, Co-founder of Zluri, explained, “The Enterprise SaaS consumption trends have led to underutilized licenses, compromised security, ineffective governance, and overall suboptimal management of SaaS stacks for IT and Security teams.” He emphasized that Zluri’s technology platform is designed to tackle these challenges by consistently adding new features.
Zluri’s innovative approach centers around its custom large language (LLM) model, which has been meticulously trained on billions of data points encompassing a wide range of attributes. By leveraging this sophisticated technology, the startup aims to assist IT teams in managing the complexities associated with large companies using over 1,100 SaaS applications for their operations.
Zluri to invest in go-to-market teams scale up
Zluri’s SaaS operations platform provides companies with a comprehensive solution, empowering them to discover, manage, optimize, secure, and automate SaaS applications from a single dashboard. Additionally, the Identity Governance tool streamlines on/offboarding processes, access request management, and access audits.
To further enhance their presence in key markets, Zluri is planning to expand its go-to-market teams in North America and Europe. Their continued dedication to improving SaaS management has earned them a customer base of over 250 companies worldwide, including esteemed names like Razorpay, Amagi, and Whoop.
Dev Khare, Partner at Lightspeed, expressed confidence in the startup approach, stating, “They have demonstrated strong market traction, driven by an innovative architecture addressing the twin drivers of cybersecurity and pressure on IT to reduce cost.” The recent funding boost is expected to propel startup’s growth and solidify its position as a leading player in the SaaS management arena.
The investment was led by Lightspeed, with participation from existing investors, including MassMutual Ventures, Endiya Partners, and Kalaari Capital. With this recent funding, the SaaS tech startup cumulative raised capital stands at an impressive $32 million.
