With technology innovating and advancing by the day, the costs of maintaining them continue to rise. This is something that has worried businesses, especially small ones. Fortunately, that is where SaaS (software as a service) comes in. One of the many benefits of SaaS is that it eliminates not only the upfront cost of purchase but also ongoing costs like maintenance and upgrades.
But with COVID pushing companies to adopt to digital in all their functions, at an unprecedented and rather unprepared rate, it is becoming increasingly difficult for them to manage multiple of such SaaS apps. That is a market that SaaS management platform Zluri has cracked and has just received $10Mn to build on that.
This round was led by MassMutual Ventures and included participation from existing investors Endiya Partners and Kalaari Capital. The firm was recently awarded G2 High Performer Winter 2022 and Most Recommended tool in the SaaS Management Platform category by Software Advice for 2021.
The startup has raised $12 million in funding to date, including the $2 million it raised in its seed round in January 2021. The proceeds from the current funding round will be utilized to further its growth momentum globally, strengthening its product capabilities, and doubling down its teams in core markets, in Asia and North America.
The SaaS market in India is growing like never before – numerous firms are entering the space and investors have eyed the sector and its immense potential. In fact, investments in the SaaS space in India increased by 170% from 2020 to come to $4.5 billion in 2021. Indian SaaS startups are also projected to capture 8-9% of the global SaaS market and reach $30 billion in revenue by 2025.
It may not be difficult for a company to buy a SaaS application, but the challenge comes in the form of managing them. With Zluri’s comprehensive SaaS management platform, companies can identify, manage & optimize, and automate their SaaS Applications from a single intelligent dashboard. It helps IT Teams streamline and automate workflows across the organization with its one-click automation engine, thereby thus helping them manage, optimize and secure their technology stacks effectively.
The two-year-old Zluri, founded in 2020 by Ritish Puttaparthi, Sethu Meenakshisundaram, and Chaithanya Yembari, has come a long way from its initial days. Today, it claims to have the most comprehensive application discovery engine in the industry and the largest library of over 600 in-depth direct integrations.
Zluri claims to have clocked a growth of over 100% month over month since its inception and claims to have added over 100 new clients in 2021 from the North American and Asian markets, including names such as Chargebee, MoEngage, Guesty, and Whatfix.