Software-as-a-service startup Zluri on Thursday said it has raised $20 million (Rs 164 crore) as a part of its Series B funding round led by Silicon Valley-based Lightspeed Venture Partners.
The fundraise also saw Zluri’s existing investors MassMutual Ventures, Endiya Partners and Kalaari Capital doubling down on their investments in the SaaS startup.
Zluri will deploy the fresh proceeds to expand its generative artificial intelligence capabilities in enterprise SaaS operations. It also plans to expand its presence in the North America and European markets.
Founded by Ritish Puttaparthi, Sethu Meenakshisundaram, and Chaithanya Yembari in 2020, Zluri's SaaS management platform for IT teams helps firms identify, manage and automate SaaS applications.
The platform features an application discovery engine and a library of over 800 direct integrations, according to the firm, with over 250 new clients globally in 2023.
Its client portfolio includes names such as Monday.com, Tipalti, Whoop, Catapult Sports, Razorpay, Smartnews, Amagi, Daxko, Traveloka amongst others.
The California-based company has cumulatively raised $32 million in funding till date.
In 2022, the firm raised $10 million in a Series A funding round led by MassMutual Ventures with participation from Endiya Partners and Kalaari Capital. Prior to that, it raised $2 million, from Endiya Partners and Kalaari Capital, in its seed round in January 2021.
“Zluri has demonstrated strong market traction, driven by a new architecture addressing the two issues of cybersecurity and pressure on IT to reduce cost," added Dev Khare, partner, Lightspeed.
Meanwhile, multi-stage venture capital firm Lightspeed has raised over $7 billion across its early and growth-stage vehicles globally. It is currently investing in areas such as cross-border commerce, mobility, artificial intelligence-based automation and devops, climate and Web3 in addition to sectors such as consumer tech, business-to-business (B2B) commerce and enterprise.
In May, the firm participated in the $10.2 million pre-Series A funding round of fintech startup XFlow.
