SaaS management platform Zluri announced on Monday that it has scooped up $10 Mn in a series A round. The round has brought MassMutual Ventures, which has led this round, as the new investor on the company’s captable. Existing investors Endiya Partners and Kalaari Capital also took part in this round. Endiya Partners and Kalaari Capital had pumped $2 Mn Zluri in a seed funding round in January 2021.       

The company said that it will use the funds to continue its growth momentum and double down its presence in core regions like Asia and North America.

Commenting on the Series A funding, Ritish Reddy, Co-Founder, Zluri, said, “We are thrilled to welcome Mass Mutual Ventures as our new partner through this Series A funding. Over the last 12 months we have seen global adoption of SaaS Management Platforms increase at an accelerated pace.”

“Our rapid growth in the category can be attributed to our product innovation and unparalleled customer support. We have made significant investments into our one-click automation engine, which helps IT Teams streamline and automate workflows across the organization thus helping them manage, optimize and secure their technology stacks effectively. We will continue our investments to extend our lead in this space and the current round of funding will help us further accelerate our global growth and product innovation.”

Zluri was founded on the premise that buying SaaS is easy but managing plethora of SaaS software and apps is not. Efficiently Managing these applications is still a huge challenge for companies given the mass volume of SaaS tools that they are adopting nowadays.

Zluri claims that its SaaS management platform is quite comprehensive and helps companies to manage and optimize their SaaS applications from a single dashboard.

The company claims that it has added over 100 new customers from North American and Asian markets in the past year. It counts large brands such as Chargebee, MoEngage, Guesty and Whatfix.

The startup was founded in 2020 by Ritish Puttaparthi, Sethu Meenakshisundaram and Chaithanya Yembari.     

The post SaaS management platform Zluri scoops up $10 Mn in Series A appeared first on Platform to Showcase Innovative Startups and Tech News.

The two-year-old startup will use the funds to ramp up the company’s sales, marketing and to expand its product offering.

Speaking on the fundraising, Mr. Vikas Mundhra (Founder & CEO of Magenta BI) said: “At Magenta BI we are excited about the funding from angel investors. It comes at a time when we are looking to scale and grow. In our earlier professional roles, we tried looking for existing solutions but the only option was to implement a customized Business Intelligence platform which was a major expense and needed technical know-how. While possible for a large enterprise, this is not feasible for an SME.”

Santhosh G conculded: “We are excited to partner with Magenta BI. Initially, Business Intelligence may seem to be a crowded market and that most products are “me-too”. However Magenta BI, is quite different and better because it is focussed on SMEs – an untapped segment. The company has developed and offers a robust, easy-to-use and affordable product that reduces the SME’s cost as well as helps them make better decisions across their Sales, Purchase, Inventory and Payments.”

About Magenta BI:

Magenta Bi is a Gujarat based SaaS platform that was founded by two veteran professionals – Vikas Mundhra & Vikalp Somani – in 2018. The startup promotes itself as a business intelligence platform that aids small businesses to make data-driven decisions through actionable analytics.

The Ahmedabad headquartered startup basically integrates its system with company’s ERP and spots growth opportunities by identifying gaps in sales, purchase, inventory and payments.

The company is aiming to help nearly 10K SME through its actionable analytics platform in the coming period.

The post Business Analytics Platform Magenta Bi raises Angel Funding appeared first on Platform to Showcase Innovative Startups and Tech News.

The company has said that the capital infusion will be used to grow Sales, Marketing & Engineering and expanding its product offerings. The company further said that it will focus on currently serving 1900 agencies in India, US, Europe, Australia & South-East Asia.

Commenting on Funding, Mr. Yash Shah (co-founder & CEO, Clientjoy) said, “At Clientjoy we are excited about the funding from GVFL – it comes at a time when we are looking to scale and grow. Today, Agencies & freelancers have to devote significant time and resources just to manage clients, since client management happens across multiple tools and platforms.

“They have no idea about either the bottlenecks or growth enablers, because most of the data is not captured and even that which is, is spread across various platforms. Clientjoy addresses and solves this issue. The investment will be used to grow the company’s sales, marketing and engineering to expand it’s product offering”.

Early investor and Board Member at CIIE, Chintan Antani, said, “As early investors, we at CIIE have seen Yash & his team grow over the years & establish Clientjoy (earlier known as Gridle) in the market, through sustained  efforts on product development and customer engagement.

Given the pandemic, recent developments in the SaaS for productivity & client management tools market have been encouraging and Clientjoy is at an inflection point in their journey. Their unique blend of team experience with a razor sharp focus on customer problems would help them capture a decent market going forward. We wish them the best.”

Incorporated in 2019, ClientJoy essentially helps modern agencies, services companies and freelancers to manage Leads, Proposals, Clients, Invoicing and Revenues under a single roof. In its initial days, the company was funded and supported by other angel investors and CIIE –a startup incubator established by IIM Ahmedabad.

The post SaaS platform ClientJoy Secures $800K in pre-series A funding from GVFL appeared first on Platform to Showcase Innovative Startups and Tech News.

Founded in July 2018 in London, this SaaS startup aims to free companies from the nightmare problem of managing their softaware subscriptions. Cledara claims that its intuitively designed software has all the answers to subscription management problem. The startups says that its software efficiently helps companies track and manage all their SaaS usage (spendings) under one platform.

Although Cledara still has a long way to go, it has certainly made a good impression on the investors with the startup recently raising $930,000 in pre-seed funding round. Today this company is offering its product across several key European markets.

Techpluto caught with Cledara’s founder and CEO Cristina Vila in an exclusive interview. In this special interview, Cristina speaks about the recent fundraising round and the way ahead for her company. She also sheds on Cledara’s special feature and other important aspects.

Q) How did the idea of ‘Cledara’ come to you?

A few years ago, I was brought into manage the operations for a fast growing startup of 140 people across three countries. We were growing so fast that before I joined, processes had evolved organically and weren’t documented.

The first step for managing it was understanding the SaaS we used, but there wasn’t a record of what we used anywhere, so I had to speak to the whole team individually to see what they were using. The frustrating thing was, as soon as I did that, it was already out of date because the finance team kept coming to me to ask what a charge on the company card was for – there was always something new! There had to be a better way and that’s why I started Cledara.

Q) Cledara recently raised $930,000 in pre-seed funding round. How does the company plan to use this capital infusion?

We’ll be using the round to continue to build the product based on all the feedback we’ve had to date from our amazing customers and to grow the team – particularly in engineering, product and UX.

Q) Can you please shed some light on some of the top features of Cledara and how do these features help in better management of SaaS subscriptions?

By using Cledara, the entire company can see all the SaaS used by the company on one screen. Team members can request new SaaS products, managers can review and approve, all SaaS is paid for with a unique virtual Mastercard using the company’s money and unwanted SaaS can be cancelled just by cancelling a card.

This infrastructure allows companies to save money by not spending on unwanted, duplicate or unused SaaS. It helps them manage GDPR risk and demonstrate a procurement process for ISO standards. It also allows teams to move fast – no more waiting for the company card from the finance team or founder!

Q) After being in operation for one year, where does Cledara currently stands in terms of profitability and revenue. Can you please share some stats and figures with regards to the same?

We’ve been doubling (or more!) every month since launch, but we don’t disclose customer numbers or revenue.

Q) Can you also please shed some light on Cledara’s revenue model?

We charge a monthly subscription fee and earn interchange when the Cledara cards are used.

Q) Cledara’s has quite a few competitors in the form of Soldo, Pleo and Spendesk. What makes Cledara unique and different from all its top competitors?

Unlike most of the above, Cledara is already available in 2 currencies and across 28 countries. The above companies are wonderful at what they do, but Cledara is fundamentally different – it is entirely focused on helping tech companies manage their SaaS, rather than being general purpose expense platforms.

Q) Any major plans to expand your footprints to other lucrative markets?

We have strong demand in the US and would consider launching there in the future, but for now we are focused on Europe!

Q) Where do you see Cledara 2-3 years from now in terms of overall growth?

We plan to keep on growing fast by listening to our customers and iterating based on their great feedback. We aim to become the default way companies purchase, manage and analyse their software subscriptions.

Q) Going forward, what is your rough prediction for the overall industry. Do you foresee any major opportunities and challenges that Cledara and all its competitors should be ready to face in the coming years?

SaaS is both a super power and a curse for companies. On the one hand, it gives all companies capabilities previously only accessible to the very largest, but on the other it is impossible to manage. The bottom-up sales model made popular by companies like Slack creates large risks for companies – if they don’t even know what software they’re using, how can they manage customer data safely? Platforms like Cledara will become essential for companies that want to use SaaS scalably and safely.

Q) Lastly, looking back at your entrepreneurial career, any piece of advice you would like to give to all the budding as well as professional entrepreneurs out there?

Move fast, ship often and talk to customers at every opportunity.

The post Cristina Vila: Cledara is right now focused on Europe but U.S Market is surely on Radar appeared first on Platform to Showcase Innovative Startups and Tech News.