Zluri raises $20M in Series B round led by Lightspeed

Zluri, a tech startup focused on SaaS management, has raised $20 million in a Series B funding round led by Lightspeed, with participation from existing investors including MassMutual Ventures, Endiya Partners, and Kalaari Capital.

Founded in 2020, the San Francisco and Bengaluru-based startup has cumulatively raised $32 million. Prior to this, it had raised $10 million in a Series A round in January, 2022.

Zluri said it will use the latest funding to expand its Generative AI capabilities in enterprise SaaS operations space. The startup claimed that it has built a custom large language (LLM) model trained on billions of data points encompassing a wide range of attributes.

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Besides, Zluri will also be scaling its go-to-market teams in North America and Europe to strengthen its presence in these markets.

According to the startup, large companies are typically using over 1,100 SaaS applications to run their operations, which brings its own challenges in terms of governance and management.

Zluri said its SaaS operations platform for IT teams helps companies discover, manage, optimise, secure, and automate SaaS applications from a single dashboard. In addition to this, the Identity Governance tool will help teams streamline on/off boarding, access request management and offer access audits.

“The Enterprise SaaS consumption trends have led to under utilised licenses, compromised security, ineffective governance, and overall suboptimal management of SaaS stacks for IT and Security teams," said Ritish Reddy, Co-founder, Zluri.

He noted that Zluri has built a technology platform to address these challenges with continuous addition of new features. The startup has over 250 customers globally, which includes names such as Razorpay, Amagi, Whoop, etc.

On the investment into Zluri, Dev Khare, Partner, Lightspeed, said, “They have demonstrated strong market traction, driven by an innovative architecture addressing the twin drivers of cybersecurity and pressure on IT to reduce cost."