Zluri, a start-up that helps US mid-sized companies manage their SaaS applications stack, announced a seed investment of US$ 2M from Endiya Partners and Kalaari Capital. The funding will help expand sales, marketing, and engineering functions and build integrations and no-code workflow automation for SaaS applications.
Founded by Sethu Meenakshisundaram, Ritish Reddy, and Chaithanya Yambari, Zluri was born out of challenges experienced first-hand by the founding team. Today, 3rd party SaaS solutions used by corporates do not follow systems or processes to manage them, leading to hidden dollar leakages, sub-par utilization, and rampant software duplication. With SaaS spend per employee expected to increase in the coming years, the problem Zluri is trying to solve will compound exponentially. Zluri currently has ten employees and has onboarded some of the leading organizations as its customers to help them with SaaS application management.
"Given that we have reached the tipping point in the adoption of SaaS, managing, and securing SaaS applications centrally with a high degree of automation is a big focus area for IT teams in large enterprises as well as mid-size companies, globally. With solid domain knowledge and necessary skills, we believe Zluri will be quick off the blocks. We are excited to partner with Sethu, Ritish, and Chaithanya in Zluri's journey to be a dominant force in the SaaS Ops Management space," said Sateesh Andra, MD, Endiya Partners.
"The founders of Zluri come together with complementary skills and deep experience in SaaS businesses. With global expenditure on SaaS applications exceeding $100B, we believe SaaS Operations Management will be a very large opportunity. We are excited to partner with Zluri to build a global SaaS business from India," said Vani Kola, MD, Kalaari Capital. Notably, Zluri is Kalaari's first investment from its new fund.
Zluri's easy to deploy solution will help companies of all sizes manage their ever-growing subscription-based software stack, popularly referred to as tech stack or SaaS stack. Low entry barriers and accelerated workplace productivity are expediting the move from on-premises software to SaaS applications. Today, a 200-employee company uses upwards of 150 applications, and there are no efficient systems to manage those apps.
"Issues such as overspending, shadow IT, under-utilization, duplication, compliance, and security-related issues have all come about lately due to the SaaS explosion. Zluri's mission is to help companies to accelerate innovation through the software stack they purchase, but without the hassles that come along with it," said Sethu Meenakshisundaram, one of the co-founders. He further added, "When the world got powered by electricity, having a meter was considered essential. Similarly, as SaaS apps power up organizations, Zluri will become a necessity too."
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