Indian software as a service (SaaS) operations(SaaSOps) platform Zluri has on Thursday announcing a $20 million funding round.
The Series B funding round was led by Lightspeed, with participation from existing investors including MassMutual Ventures, Endiya Partners and Kalaari Capital, Zluri said in a statement.
The company has now raised $32 million in total venture funding since 2020.
The fresh funding round will enable Zluri growth across North America and expand into Europe.
Zluri also planned to double-down on artificial intelligence (AI) as identity governance functionality makes an impact with users.
With the new funding round, Zluri will expand generative AI capabilities in enterprise SaaSOps with Zluri’s CoPilot – an intelligent assistant to boost efficiency and productivity across enterprises using no-code workflows.
Zluri has built a custom large language (LLM) model trained on billions of data points encompassing a wide range of attributes.
Zluri’s expansion plans include continuing to scale go-to-market teams in North America and Europe to reinforce their presence in strategic markets, and fostering closer collaboration with customers.
By establishing a stronger global footprint, Zluri 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.
“The enterprise SaaS consumption trends have led to under utilized licenses, compromised security, ineffective governance and overall suboptimal management of SaaS stacks for IT and security teams,” said Ritish Reddy, Co-Founder of Zluri.
“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,” he added.
Zluri is a cloud-native SaaSOps platform enabling modern enterprises with SaaS management and identity governance.
The firm empowers IT and Security teams to gain visibility into their SaaS landscape, unlock recurring savings, and securely govern access with provisioning and de-provisioning.
Zluri’s technology is powered by a deep discovery engine, in-built iPaas and its evolving AI, enabling companies to easily navigate and control complex SaaS ecosystems.
Its comprehensive SaaSOps platform for IT teams helps companies discover, manage and optimize, 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 new Zluri CoPilot feature will help teams converse with their data and create workflows i.e making offboarding users much more efficient.
Zluri works with over 250 customers globally which include prominent names such as Monday.com, Tipalti, Whoop, Catapult Sports, Razorpay, Smartnews, Amagi, Daxko, Traveloka etc.
“We are excited to partner with the Zluri team as they revolutionize SaaS management and identity governance for large enterprises and mid-market firms in the United States and globally,
“They have demonstrated strong market traction, driven by an innovative architecture addressing the twin drivers of cybersecurity and pressure on IT to reduce cost,” said Dev Khare, Partner, Lightspeed.
Since its Series A in January 2022, Zluri has doubled the overall team size, made deep in-roads in the United States market including setting up an office in California and launched new products expanding their offerings from a single product to multi-product for both enterprises and mid-market companies.