SaaS management platform Zluri, based in San Francisco and Bengaluru, raised $20 million in its Series B led by Lightspeed, with participation from existing investors such as MassMutual Ventures, Endiya Partners, and Kalaari Capital.
Utilizing Funds to Enhance Generative AI Capabilities
Zluri revealed that the fresh capital will be used to expand its Generative AI capabilities within enterprise SaaSOps through its new feature, Zluri CoPilot. This intelligent assistant aims to boost efficiency and productivity across enterprises by leveraging no-code workflows.
Comprehensive SaaS Operations Platform for Efficient Management
Founded in 2020 by Chaithanya Yambari, Ritish Reddy, and Sethu Meenakshisundaram, Zluri offers a cloud-native SaaS operations platform that helps enterprises manage their SaaS applications and identity governance while mitigating risks. The platform empowers IT teams to discover, manage, optimize, secure, and automate SaaS applications from a single dashboard. Zluri’s identity governance tool streamlines on/offboarding, access request management, and access audits.
Introduction of Zluri CoPilot for Enhanced Efficiency
Zluri’s latest feature, Zluri CoPilot, enables teams to interact with their data and create workflows that enhance the efficiency of offboarding users. By providing conversational abilities and streamlined workflows, Zluri CoPilot aims to make the offboarding process more efficient for teams.
Market Expansion and Competition in the SaaS Sector
Zluri currently serves over 250 customers globally, including well-known companies such as Monday.com, Tipalti, Whoop, Catapult Sports, Razorpay, Smartnews, Amagi, Daxko, and Traveloka. With this latest funding round, Zluri has raised a total of over $32 million across multiple rounds. The company plans to focus on its key markets in Europe and North America, which generate over 60% of its total revenue.
Zluri competes in the SaaS management space against other platforms such as Zylo, Torri, and BetterCloud. While the SaaS sector is thriving in the Indian startup ecosystem, it has not been immune to the impact of the current funding climate. According to Inc42’s ‘India Tech Startup Funding Report H1 2023,’ funding for SaaS startups dropped by over 78% year-on-year to $580 million, down from $2.7 billion in the same period last year. The number of deals also declined by 25% compared to the previous year.
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