With technology innovating and advancing day by day, the costs of their maintenance continue to increase. This is something that worries businesses, especially small ones. Fortunately, this is where SaaS (software as a service) comes in. One of the many benefits of SaaS is that it eliminates not only the initial cost of purchase, but also ongoing costs like maintenance and upgrades.
But with COVID pushing businesses to embrace digital in all of their functions, at an unprecedented and rather unprepared pace, it is becoming increasingly difficult for them to manage many of these SaaS applications. It’s a market that the SaaS Zluri management platform has broken into and just received $ 10 million to build on it.
This round was led by MassMutual Ventures and included participation from existing investors Endiya Partners and Kalaari Capital. The company recently received the G2 High Performer Winter 2022 award and the 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 during its January 2021 fundraising round. The proceeds of the current fundraising will be used to continue its fundraising momentum. growth on a global scale, strengthen its product capabilities and double its teams in key markets, Asia and North America.
The SaaS market in India is growing like never before – many companies are entering the space and investors have been eyeing the sector and its immense potential. In fact, investments in the SaaS space in India increased 170% from 2020 to reach $ 4.5 billion in 2021. Indian SaaS startups are also expected to capture 8-9% of the global SaaS market and reach $ 30 billion in revenue by 2025.
It might not be difficult for a business to buy a SaaS application, but the challenge comes in the form of managing them. With Zluri’s comprehensive SaaS management platform, businesses can identify, manage, optimize and automate their SaaS applications from a single smart dashboard. It helps IT teams streamline and automate workflows across the organization with its one-click automation engine, helping them effectively manage, optimize and secure their technology stacks.
Two-year-old Zluri, founded in 2020 by Ritish Puttaparthi, Sethu Meenakshisundaram and Chaithanya Yembari, has come a long way from its early days. Today, it claims to have the industry’s most comprehensive application discovery engine and the largest library of over 600 deep direct integrations.
Zluri claims to have experienced over 100% month-over-month growth since its inception and claims to have added over 100 new customers in 2021 in the North American and Asian markets, including names like Chargebee, MoEngage, Guesty and Whatfix.