Lightspeed Leads Zluri’s Funding Round for SaaS Management

Large companies are typically using more than 1,100 software as a service (SaaS) applications to run their operations and the number of companies adopting this trend is growing about 20 percent each year, which can present risks.

Helping these companies manage their SaaS estates and mitigate risks, SaaS operations (SaaSOps) platform Zluri announces today it has raised $20 million in a Series B funding round, which was led by Lightspeed, with participation from existing investors including MassMutual Ventures, Endiya Partners and Kalaari Capital.

Zluri now has raised $32 million in total venture funding since 2020.

The rapid expansion of SaaS products poses significant challenges for IT and security teams, making it difficult to manage and orchestrate SaaS operations. Alongside this, the unstoppable wave of enterprise digital transformation, led by generative AI, swift cloud adoption and the rise of distributed remote workforces, usher in an era of complexity in SaaS operations.

“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,” said Ritish Reddy, Zluri’s co-founder. “We have fearlessly been building Zluri to scale for the needs of our community and have added a range of features to protect these companies and help them grow.

“Having launched and scaled our discovery engine in 2020 to help companies understand their SaaS stacks better, we have since launched an identity governance tool to manage access and now are launching the Zluri co-pilot to help enable faster workflows,” Reddy added.

Zluri’s SaaSOps platform for IT teams helps companies discover, manage and optimize, secure and automate SaaS applications from a single dashboard. In addition, the “identity governance” tool helps teams streamline on/off boarding, accesses request management and offers access audits.

The Zluri CoPilot feature helps teams converse with their data and create workflows, such as making offboarding users much more efficient.

With the new funding round, Zluri will expand Generative AI capabilities in enterprise SaaSOps with Zluri’s CoPilot – an intelligent assistant to boost efficiency and productivity across enterprises using no-code workflows.

Zluri has built a custom large language (LLM) model trained on billions of data points encompassing a range of attributes.

The company’s expansion plans include continuing to scale go-to-market teams in North America and Europe to reinforce its presence in strategic markets and to foster closer collaboration with customers.

Zluri puts the IT team back in control of their new SaaS-ified landscape. Zluri has the most comprehensive application discovery engine in the industry and the largest library of over 800 in-depth direct integrations.

For more information visit https://www.zluri.com/

Photo: (From L-R) Chaithanya Yambari, Ritish Reddy, Sethu Meenakshisundaram