Zluri raises $10 million led by MassMutual Ventures

SaaSmanagementplatform Zluri, has raised a $10-millionSeriesAround of fundingfromMassMutual Ventures, with the participation ofEndiya Partners, and Kalaari Capital.

Zluri had previously raised $2 millionfrom Endiya Partners and Kalaari Capitalin its seed round in January 2021. The company plans to use the fresh capital tostrengthenitsproduct capabilities.Zluriplans to double down on the teams in core markets, including Asia and North America.

Today, companies across the globe are adopting SaaS applications. While it is easy to buy a SaaSapplication, managing them is a challenge for companies, given the volume of SaaS tools they are adopting. While the IT spend on these tools is increasing, the usage and utilisation of the investments remains a challenge.

Zluri was founded in 2020 by Ritish Puttaparthi, Sethu Meenakshisundaram and Chaithanya Yembari.. Zluri’s comprehensive SaaS Management platform for IT teams helps companies discover, manage and optimise, secure and automate SaaS applications from a single dashboard.Zluri has added over 100 new customers from North American and Asian markets in the past year and includes large brands such as Chargebee, MoEngage, Guesty and Whatfix as customers.

Ritish Reddy, Co-Founder, Zluri,said,“We are thrilled to welcome Mass Mutual Ventures as our new partner through this Series A funding. 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 inour one-click automation engine, which helps IT Teams streamline and automate workflows across the organization thus helping them manage, optimise and secure their technology stacks effectively. 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.”

Anvesh Ramineni, Managing Director at MassMutual Ventures,added, “Orchestrating SaaS applications in organisations and helping them maximise ROI on continually increasing SaaS spend is a big problem statement that requires significant operational effort from IT Teams. With an industry-leading SaaS Management Platform, Zluri is well-positioned to help enable this across enterprises. We are very excited to back Ritish, Sethu, Chaithanya, and the Zluri team and look forward to supporting them in their vision of building a global leader in this category.”

“SaaS adoption has grown exponentially amidst enterprise digitalisation in the post-pandemic world across South-East Asia, MENA and the APAC regions, creating a huge opportunity for SaaS Management Players. Zluri, with a Best-in-Class product, will definitely emerge as a category leader in the region as well as the global market, and reach pole position in the near future,” said Sateesh Andra, Managing Director atEndiya Partners.

“Ritish, Sethu and Chaithanya have shown stellar execution in one of the fastest growing sub-sectors in SaaS. They have a deep understanding of the problems faced by enterprises in managing their software spend and have a product first approach to solving problems. I am very excited by the potential that Zluri has shown in the SaaS Management Space,” saidVani Kola, Managing Director at Kalaari Capital.

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