Zluri, a SaaS (software as a service) management platform, has raised $10 million in a Series A funding round led by MassMutual Ventures with participation from existing investors, Endiya Partners and Kalaari Capital.
California-based Zluri had previously raised $2 million, from Endiya Partners and Kalaari Capital, in its seed round in January 2021.
The company said that in the last one year it had added over 100 new customers from North American and Asian markets, including brands like Chargebee, MoEngage, Guesty, and Whatfix.
Ritish Puttaparthi, Sethu Meenakshisundaram, and Chaithanya Yembari founded the company in 2020. Before launching Zluri, the three co-founders worked together at immersive gamification and simulation software company Knolskape.
From a single dashboard, Zluri's SaaS management platform for IT teams helps firms identify, manage and automate SaaS applications. The platform features the industry's most comprehensive application discovery engine and the largest library of over 600 in-depth direct integrations, according to the firm, which has grown at a rate of over 100% month over month since its debut, with over 100 new clients globally in 2021.
“Over the last 12 months, we have seen global adoption of SaaS Management Platforms increase at an accelerated pace. Our rapid growth in the category can be attributed to our product innovation and unparalleled customer support. We have made significant investments into our one-click automation engine, which helps IT Teams streamline and automate workflows across the organization thus helping them manage, optimize and secure their technology stacks effectively,” Ritish Reddy, co-founder of Zluri said.
“We will continue our investments to extend our lead in this space and the current round of funding will help us further accelerate our global growth and product innovation,” he added.
Anvesh Ramineni, Managing Director at MassMutual Ventures, said “Orchestrating SaaS applications in organizations and helping them maximize ROI on continually increasing SaaS spend is a large problem statement that requires significant operational effort from IT Teams.
MassMutual Ventures (MMV) is a multistage global venture capital firm focused on investing in enterprise software, cybersecurity, financial technology and digital health companies. It has offices in Boston and Singapore, with $450 million under management.
Operational since 2011, Kalaari Capital invested $75-90 million in 22 investments in 2021 alone, ranking among the leading private market investors in India in terms of activity. The early-stage VC firm has also partially exited some of its largest portfolio companies including Dream11, Simplilearn, MilkBasket, Shop101 among others this year, generating healthy returns for its LPs in the process. The investment in Zluri was one of the first bets from its new fund.