Bengaluru-based SaaS start-up Zluri has raised $20 million in a Series B round led by Lightspeed.
The round also saw participation from existing investors, including MassMutual Ventures, Endiya Partners, and Kalaari Capital. With this, the company has now raised $32 million in total venture funding since 2020.
With the new funding round, the start-up will expand generative AI capabilities in enterprise SaaS with Zluri’s CoPilot, an intelligent assistant to boost efficiency and productivity across enterprises using no-code workflows. Moreover, it has built a custom large language (LLM) model trained on billions of data points encompassing a wide range of attributes.
“The enterprise SaaS consumption trends have led to underutilised licenses, compromised security, ineffective governance, and overall suboptimal management of SaaS stacks for IT and Security Teams,” said Ritish Reddy, co-founder of Zluri.
Also read: Indian SaaS industry to clock $26 billion revenues by 2026: Report
The rapid expansion of SaaS products in large companies poses significant challenges for IT and security teams, making it increasingly difficult to manage and orchestrate SaaS operations. Alongside this, the unstoppable wave of enterprise digital transformation, led by generative AI, swift cloud adoption, and the rise of distributed remote workforces, is ushering in a new era of complexity in SaaS operations.
According to the company, its new co-pilot feature will help teams converse with their data and create workflows, i.e., making offboarding users much more efficient. Currently, it works with more than 250 customers, such as Monday.com, Tipalti, Whoop, Catapult Sports, Razorpay, Smartnews, Amagi, Daxko, Traveloka, and more.
Furthermore, it plans to scale go-to-market teams in North America and Europe to reinforce its presence in strategic markets and foster closer collaboration with customers. By establishing a stronger global footprint, it aims to provide exceptional support to its growing customer base while actively seeking opportunities to forge new partnerships and drive innovation in the realm of SaaS management and identity governance.
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Published on July 13, 2023
