SaaS Management Startup Zluri Raises $20 Mn From Lightspeed, Existing Investors

SUMMARY

The Series B funding round also saw participation from existing investors including MassMutual Ventures, Endiya Partners, and Kalaari Capital

Zluri said it will utilise the fresh capital to expand its Generative AI capabilities in enterprise SaaSOps with its new feature, Zluri CoPilot

Founded in 2020, Zluri is a cloud-native SaaS operation platform that helps enterprises manage their SaaS applications and identity governance, while mitigating risks

San Francisco and Bengaluru-based SaaS management platform Zluri on Thursday (July 13) said it has raised $20 Mn in its Series B round, led by Lightspeed. The funding round also saw participation from existing investors including MassMutual Ventures, Endiya Partners, and Kalaari Capital.

The startup didn’t disclose the valuation at which it raised the funding.

In a statement, Zluri said it will utilise the fresh capital to expand its Generative AI capabilities in enterprise SaaSOps with its new feature, Zluri CoPilot, an intelligent assistant to boost efficiency and productivity across enterprises using no-code workflows.

Founded in 2020 by Chaithanya Yambari, Ritish Reddy, and Sethu Meenakshisundaram, Zluri is a cloud-native SaaS operation platform that helps enterprises manage their SaaS applications and identity governance, while mitigating risks.

Zluri’s comprehensive SaaS operations platform for IT teams helps companies discover, manage and optimise, secure, and automate SaaS applications from a single dashboard. In addition to this, its identity governance tool helps teams streamline on/off boarding, access request management and offer access audits.

The new Zluri CoPilot feature will help teams converse with their data and create workflows to make offboarding users much more efficient.

The startup claims to work with over 250 customers globally, including Monday.com, Tipalti, Whoop, Catapult Sports, Razorpay, Smartnews, Amagi, Daxko, and Traveloka.

With this round, Zlurri has now raised over $32 Mn in funding across multiple rounds. The startup intends to double down on its biggest markets – Europe and North America, from where it earns over 60% of its total revenue.

Zluri competes against the likes of Zylo, Torri, BetterCloud, among others.

While the SaaS sector is one of the brightest sectors in the Indian startup ecosystem, it has also failed to escape from the impact of the ongoing funding winter. As per Inc42’s ‘India Tech Startup Funding Report H1 2023,’ total funding raised by SaaS startups dropped over 78% on a year-on-year basis to $580 Mn from $2.7 Bn in the year-ago period. The deal count stood at 94 in the first half of 2023, a decline of 25% from a year ago.