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Zluri Founders Chaithanya Yambari, Ritish Reddy and Sethu Meenakshisundaram
Zururi
Software-as-a-Service (Saas) is a revolution where people across the enterprise have the technology tools they need to do their jobs, rather than waiting for IT to install and maintain software for them. You will be able to purchase your own. But with this huge advantage comes a downside, which exposes companies to cost and security risks if they cannot control SaaS usage and spending.
there Zururi The California company, which announced a $20 million Series B funding today, offers a SaaS management platform. Its tools allow IT administrators to track her organization’s SaaS usage, monitor who in the company has access to which apps and how much they spend, giving them the means to regain control. can.
This isn’t Zururi’s first funding round, with Forbes reporting on a January 2021 Series A round. But Ritish Reddy, who co-founded the business with colleagues Chaitanya Yambari and Sethu Meenakshisundaram, says the business has evolved rapidly since then. “Since our Series A, we have transformed,” he says, noting the need for constant renewal in an increasingly competitive market.
Zluri’s headcount has now more than doubled to about 160, but it’s not just increased sales and product evolution that have prompted a significant expansion of the team. What has also changed is the nature of the value proposition.
First, many of Zluri’s customers are now mid-market customers with a very significant SaaS footprint, potentially running more than 1,000 applications, increasing compliance headaches. says Reddy. For example, you may need to be able to create accounts for every single user for GDPR purposes. So he developed a governance tool that helps applications onboard and offboard his users, automates access request management, and most importantly generates access audits.
Second, the company responded to the explosion of generative AI by building natural language processing (NLP) capabilities into its platform. Business users who want to customize their apps can now use Zluri to make conversational requests. No coding experience or knowledge required.
The idea is that Zluri’s platform will allow IT to monitor and manage SaaS usage across the organization from a single platform, with features like governance tools and NLP capabilities available when needed. . “We are building something for a cloud-first world,” he says Reddy. “We develop tools based on the needs of our customer community.”
What this means in practice is that companies using Zluri can avoid the problem of developing shadow IT systems where the central IT organization does not know who installed the application and how it is being used. This also allows for cost savings as IT can monitor which SaaS licenses are in use and which of his SaaS licenses are redundant but still being paid for.
Not surprisingly, the market for such tools is large. According to a recent report from Proficient Market Insights, the SaaS management industry was valued globally at around $600 million last year, and this figure is projected to grow to around $2.5 billion by 2029. Garter of the market research group points to his suite of SaaS management tools that offer competition to Zururi. Examples include Torii, Bettercloud, and Productiv.
But Zurli investors believe the company has a distinct competitive advantage. The Series B round was led by Lightspeed, with participation from existing investors including MassMutual Ventures, Endiya Partners and Kalaari Capital, bringing the total raised by the business to $20 million.
“The Zluri team has demonstrated strong market traction, driven by an innovative architecture that addresses the twin drivers of cybersecurity and cost pressures on IT,” said Dev Khare, partner at Lightspeed. I’m here.