Zluri, an operations management platform, is currently engaged in discussions to secure funding in the range of $15-20 million for its Series B round. This particular funding opportunity stands out as a notable mid-stage software-as-a-service (SaaS) deal in a challenging investment environment.
The SaaS startup intends to use the capital to broaden its customer base and venture into new markets, thereby extending its reach.
Eight Roads Ventures and Lightspeed Venture Partners, who are already investors in Zluri, are anticipated to take the lead in the upcoming funding round. The upcoming round of funding will involve several current investors, such as MassMutual Ventures, Endiya Partners and Kalaari Capitals.
Zluri was founded in 2020 by Ritish Reddy Puttaparthi, Sethu Meenakshisundaram, and Chaithanya Yambari, and has its roots in both San Francisco and Bengaluru.
Zluri empowers businesses’ IT teams to effortlessly handle a range of SaaS applications through a unified dashboard. With Zluri, companies can easily discover, manage, secure, and comply with their various software tools. Moreover, it simplifies contract management and renewal processes, allowing users to establish an efficient approval system that curbs unnecessary expenses.
In January 2022, the company successfully raised $10 million in its Series A funding round from prominent investors, namely Kalaari Capital and Endiya Partners. This round came after the company had already secured approximately $2 million during its seed stage funding in 2021, with investments from the same investors, Endiya Partners and Kalaari Capital.