Zluri raises $10mn in Series A led by MassMutual Ventures
Led by MassMutual Ventures, Zluri’s $10 million Series A round also had participation from existing investors, Endiya Partners and Kalaari Capital. Previously, these two investors collectively gave the company $2 million in its seed round last January.
“We are thrilled to welcome Mass Mutual Ventures as our new partner through this Series A funding,” said Ritish Reddy, Co-Founder of Zluri.
“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,” he continued.
As well as continuing growth and strengthening its product’s capabilities, Zluri also plans to double down the teams in its core markets of Asia and North America with the funding.
Zluri’s industry-leading SaaS Management Platform
With the ability to help customers automate software-as-a-service (SaaS) applications from a single dashboard, Zluri’s SaaS Management platform also supports customers as they optimise and secure their applications.
In a time when companies across the globe are adopting SaaS applications, managing these platforms has posed a significant challenge for many. Zluri’s solution puts IT teams back in control and has the most comprehensive application discovery engine in the industry and the largest library of over 600 in-depth direct integrations.
Anvesh Ramineni, Managing Director at MassMutual Ventures, said about the company: “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.”
He added: “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.”
Exponential growth since 2020
By utilising its platform, customer’s can gain automated processes with Zluri. Offering automated employee onboarding and offboarding, Zluri’s platform gives customers purpose-built workflows to enable an easy-to-use, intuitive UI.
Founded in 2020, the company has shown large growth in its two years. It has added over 100 new customers from North American and Asian markets in the past year.
Zluri has also recently been awarded G2 High Performer Winter 2022 and Most Recommended tool in the SaaS Management Platform category by Software Advice for 2021.