[Funding alert] SaaS management platform Zluri raises $10M in Series A led by MassMutual Ventures

SaaS Management platform Zluri, on Monday announced a $10 million Series A round of funding led by MassMutual Ventures , with participation from existing investors Endiya Partners and Kalaari Capital. Zluri had previously raised $2 million from Endiya Partners and Kalaari Capital, in its seed round in January 2021.

So far the startup has raised $12 million, including the current round.

The startup stated that it plans to use the additional capital to continue its growth momentum and further strengthen its product's capabilities. The company plans to double down the teams in core markets, in Asia and North America.

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.

Speaking about the new development, Ritish Reddy, Co-founder, Zluri, said, 

“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 organisation 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.”

Zluri claims to have 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. Zluri has recently been awarded G2 High Performer Winter 2022 and Most Recommended tool in the SaaS Management Platform category by Software Advice for 2021.

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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 large 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 on their vision of building global leader in this category.”

“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 the pole position in the near future.” commented, Sateesh Andra, Managing Director at Endiya Partners. 

“The co-founders have a deep understanding of the problem faced by enterprises in managing their software spend and have a product first approach to solving the problem. I am very excited by the potential that Zluri has shown to be a leader in the SaaS Management Space.” said Vani Kola,Managing Director at Kalaari Capital.