Lightspeed leads $20m round for India SaaS player Zluri

Existing investors MassMutual Ventures, Endiya Partners, and Kalaari Capital also took part in the Series B. According to AVCJ Research, Endiya and Kalaari provided USD 2m in seed funding in 2021 and they were joined by MassMutual – the lead investor – in a USD 10m Series A the following year.

Zluri, which was founded in 2020, is one of numerous start-ups that have emerged in response to the proliferation of subscription-based SaaS services. For example, earlier this year, India-founded Spendflo raised a USD 11m Series A for a SaaS procurement management platform predicated on the observation that companies were using systems designed for 20 outsourced tools to manage 120.

Zluri claims its SaaSOps platform enables IT and security teams to gain visibility into their SaaS landscape with a view to unlocking recurring savings and improving compliance and governance practices. Users can run SaaS applications from a single dashboard, facilitating onboarding and offboarding, access request management, and access to audits.

The company works with more than 250 customers globally, including Monday.com, Tipalti, Whoop, Catapult Sports, Razorpay, Smartnews, Amagi, Daxko, and Traveloka.

Zluri has found that companies are typically using over 1,100 SaaS applications to run their operations, which creates efficiencies but also presents security risks. The rise of generative artificial intelligence (AI), cloud adoption, and distributed remote workforces only adds to the complexity.

“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 of Zluri, in a statement.

“We have fearlessly been building Zluri to scale for the needs of our community and have added a range of features to protect these companies and help them grow. Having launched and scaled our discovery engine in 2020 to help companies understand their SaaS stacks better, we have since launched an identity governance tool to manage access and now are launching the Zluri co-pilot to help enable faster workflows.”

Since the Series A, the company doubled the size of its team and made inroads into the US, including setting up an office in California. The new capital will support further growth in North America and expansion into Europe, as well as the inclusion of generative AI capabilities into SaaSOps. Zluri has built its own large language model trained on billions of data points.

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• Topics
• South Asia
• North America
• Technology
• Early-stage
• India
• Lightspeed Venture Partners
• Endiya Partners
• Kalaari Capital
• MassMutual Ventures