Zluri Raises $20M Series B to Help Companies Manage App Stacks
Modern enterprises typically rely on a slew of various software tools to help keep their operations running smoothly, like HR and payroll management platforms, or collaboration solutions like Zoom and Google Workspace. As these tech estates continue to grow, Zluri wants to help companies manage all of their software tools and mitigate risks.
Santa Clara-based Zluri offers a software-as-a-service operations platform that allows IT teams to discover, manage, optimize, secure and automate their SaaS apps from a central dashboard. The company announced Thursday that it closed on a $20 million round of Series B funding led by Lightspeed, some of which will be used to expand its presence in Europe and North America. So far Zluri serves some 250 enterprise clients around the world.
On average, companies tend to use around 1,100 SaaS applications to run their day-to-day processes, according to Zluri’s customer research, and the number of companies adopting this operation strategy increases by 20 percent every year. As these tech stacks grow, companies are put at risk in a number of areas, from security and compliance to cost.
For instance, if a company lacks visibility into which programs are in use, employees may use unauthorized apps, posing a potential security issue. Additionally, with no control over app access rights and permissions, companies could see an increase in orphaned accounts or misconfigurations and could have difficulty ensuring compliance during audits, Ritish Reddy, Zluri’s co-founder, told Built In via email.
Alongside remedying these matters, Zluri works to ensure companies are aware of their app costs so they can avoid wasted spend on underused programs. The company offers a range of tools to help boost app efficiency, including CoPilot, an AI-powered solution that helps teams create on and offboarding workflows based on company app usage data.
This fresh capital will also allow Zluri to further expand CoPilot across a range of areas. Its generative AI tech is built on a custom large language model trained on billions of data points, according to Reddy, making it ideal for an array of capabilities. The company will invest in automating IT workflows with more than 800 integrations, providing alerts and analytics for access security issues and offering budget optimization insights.
“Zluri is working on a one-of-a-kind comprehensive and cohesive generative AI for IT Operations,” Reddy said. “It’s the most comprehensive platform to ensure that all the necessary tasks related to identity and access management, identity security, governance and risk and IT and SaaS security are made easier.”
As the Zluri grows its tech, it’s also expanding its team. Employing 150 people today, the company is hiring talent with a focus on its go-to-market operations. Zluri plans to grow its nine-person U.S.-based workforce to 25 people by the end of the year.