SaaS mgmt startup Zluri raises $2 million

Hyderabad: Zluri, a Hyderabad-based startup that helps US mid-sized companies manage their SaaS applications stack, has raised a seed investment of $2 million from early-stage venture capital firm 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, third-party SaaS solutions used by corporates do not follow systems or processes to manage them, leading to hidden dollar leakages, sub-par utilisation 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.

"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," Sateesh Andra, Managing Director, Endiya Partners, said in a statement on Friday.

"With global expenditure on SaaS applications exceeding $100 billion, 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, Managing Director of Kalaari Capital.

"When the world got powered by electricity, having a meter was considered essential. Similarly, as SaaS apps power up organisations, Zluri will become a necessity too," said Sethu Meenakshisundaram, one of the Co-Founders.