Source: Beast Finance Author: Beast Finance
Beast Finance learned that Zluri, a SaaS operations (SaaSOps) platform, announced today that it has received US$20 million in financing to help companies manage SaaS assets and reduce risks. The Series B round was led by Lightspeed, with participation from other investors including MassMutual Ventures, Endiya Partners and Kalaari Capital. The company has raised $32 million in venture capital since 2020.
The rapid expansion of SaaS offerings in large companies has created significant challenges for IT and security teams, making it increasingly difficult to manage and orchestrate SaaS operations. Meanwhile, a wave of enterprise digital transformation led by generative artificial intelligence, rapid adoption of cloud computing, and the rise of a distributed remote workforce is ushering in a new era of complexity for SaaS operations.
British Reddy, co-founder of Zluri, commented: "Enterprise SaaS consumption trends have resulted in underutilized licensing of SaaS stacks by IT and security teams, compromised security, ineffective governance, and overall poor management." Zluri, a comprehensive SaaS ops platform for IT teams, helps companies discover, manage and optimize, secure and automate SaaS applications from a single dashboard
. Among other things, Identity Governance tools will help teams simplify onboarding/offlines, access request management, and provide access auditing. The new Zluri CoPilot feature will help teams communicate with their data and create workflows that make departing users more productive.
Zluri works with more than 250 clients worldwide, including well-known companies such as Monday.com, Tipalti, Whoop, Catapult Sports, Razorpay, Smartnews, Amagi, Daxko, Traveloka, etc.
With the new funding round, Zluri will expand generative AI capabilities in enterprise SaaSOps with its CoPilot, an intelligent assistant designed to increase the efficiency and productivity of enterprises using no-code workflows. Zluri has built a custom large language (LLM) model trained on billions of data points covering a wide range of attributes.
Zluri's expansion plans include continued expansion of the market teams in North America and Europe to strengthen their presence in strategic markets and facilitate closer collaboration with customers. By establishing a stronger global footprint, Zluri aims to provide exceptional support to its growing customer base, while actively pursuing opportunities to form new partnerships and drive innovation in the areas 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 enterprise and mid-market companies in the U.S. and globally. Driven by an innovative architecture, they demonstrate strong market traction that addresses the dual drivers of cybersecurity and IT cost reduction." Dev Khare, Partner at Lightspeed Its offerings have expanded from single products to multi-products for enterprise and mid-market companies
.
ARC is a group of 16 unique companies with different technology stacks. Zluri enables us to understand usage and reveals shadow IT so we can understand which tools are being used by each function. They also help us cross-reference our spend and usage, helping us determine which SaaS applications provide the most business value. We are currently connecting our HR systems to allow automatic provisioning/deprovisioning of SaaS applications and licenses. It’s been a great tool for us and we look forward to a long-term partnership,” said Kyle Hitchcock, ARC Group IT Director.
Zluri puts IT teams back in control of their new SaaS-enabled environments. Zluri has the industry’s most comprehensive application discovery engine and the largest library of 800+ deep direct integrations. About
Zluri
Zluri is a cloud-native SaaS ops platform that provides SaaS management and identity governance for modern enterprises. Zluri enables IT and security teams to gain visibility into their SaaS environments, unlock cycle savings, and securely manage access through provisioning and deprovisioning. Zluri's technology, powered by a deep discovery engine, built-in iPaas and its evolving AI, enables companies to easily navigate and control complex SaaS ecosystems. Trusted by more than 250 customers worldwide, Zluri delivers innovative, reliable and scalable solutions that enable organizations to optimize their SaaS usage, ensure compliance and enhance identity governance practices.
About Lightspeed
Lightspeed is a global, multi-stage venture capital firm focused on accelerating disruptive innovations and trends in enterprise, consumer and health. Since 2000, Lightspeed has supported entrepreneurs and helped build the companies of the future, including Snap, Hasura, OYO, Affirm, AppDynamics, Nutanix, Supabase, Darwinbox, Razorpay, and Udaan. Lightspeed and its affiliates currently manage more than $18 billion globally, with investment professionals and advisors in India, Silicon Valley, Israel, China, Southeast Asia and Europe.