Bengaluru-based SaaS firm Zluri has raised $20 million in a Series B funding round led by Lightspeed, marking a significant milestone in its mission to transform SaaS management.
The funding will enable Zluri to leverage AI technology and expand its reach into North America and Europe. With a total venture funding of $32 million since 2020, Zluri aims to revolutionize identity governance and drive efficiency in SaaS operations for enterprises.
Zluri, founded in 2020, aims to revolutionize SaaS management and identity governance for large enterprises and mid-market firms.
Meanwhile, by addressing the challenges of underutilized licenses, compromised security, and ineffective governance, Zluri provides IT teams with a comprehensive platform to manage, optimize, and automate their SaaS applications. With its innovative architecture, Zluri will boost efficiency and strengthen security in SaaS operations.
A Boost for Zluri’s Expansion Plans
Lightspeed, a leading venture capital firm, has taken the lead in Zluri’s Series B funding round, investing $20 million in the company. Existing investors, including MassMutual Ventures, Endiya Partners, and Kalaari Capital, participated in the funding round.
The influx of capital will fuel Zluri’s expansion into North America and Europe, allowing the company to reinforce its presence in strategic markets and forge closer customer collaborations.
Additionally, with the new funding, Zluri plans to enhance its SaaS management platform with the power of AI. The company will focus on developing CoPilot, an intelligent assistant that boosts efficiency and productivity through no-code workflows.
CoPilot enables teams to engage with their data, streamline processes, and simplify SaaS management. Zluri’s commitment to AI-driven solutions sets it apart in the evolving landscape of SaaS management.
Establishing Market Leadership and Partnerships
Zluri’s innovative approach has gained significant traction in the industry, positioning it as a market leader in SaaS operations. The company works with over 250 customers globally, including Monday.com, Tipalti, and Razorpay.
However, with doubling its team size since its Series A funding in 2022, Zluri has evolved into a multi-product company serving enterprises and mid-market companies. Through strategic partnerships and continuous innovation, Zluri is driving the transformation.
Revolutionizing SaaS Management and Identity Governance
Despite reporting a loss in FY22, Zluri is optimistic about its future prospects. The company expects to grow fivefold in FY23, capitalizing on the increasing demand for efficient SaaS management solutions.
With a strong focus on addressing the challenges of SaaS consumption trends and offering comprehensive tools for management and governance, Zluri is well-positioned to drive innovation and efficiency in the SaaS landscape.
Zluri’s $20 million Series B funding marks a significant step forward in its mission to revolutionize SaaS management. As the demand for effective SaaS management solutions grows, Zluri is well-equipped to lead the industry and provide enterprises with the tools they need to optimize their SaaS applications.