“If Software is eating the world, SaaS is eating software”
Today, businesses of all sizes use subscription software for managing their daily operations and driving efficiencies through their value chains. This usage adds ups — In 2019, the global SaaS market crossed a $100B annual run rate with a CAGR of 10–12%.
Globally, SaaS has been a secular sector attracting $87.4B in funding in 2019 having grown 7x from $12.7B in 2012.
The requirement for a solution to manage these proliferations of SaaS apps & optimize the expenses has emerged
The average mid-market company (101–1000 FTEs) in the US uses ~200 SaaS applications and spends close to $2.5M, while the average enterprise company (>1000 FTEs) uses ~300 applications spending close to $4.5M annually.
Today, most organisations manage their software subscriptions via spreadsheets. As these organisations grow, there is no seamless method to keep track of the purchases and utilization of software. This leads to problems such as the rise of Shadow IT, duplicated spend on software and lack of real-time visibility on usage and consumption which only compounds as the organization grows. About 30% of this spend is wasted annually primarily due to a lack of organizational-level planning for software purchasing, overprovisioned resources & orphaned SaaS apps.
To solve this large and growing problem, SaaS Management as a category has emerged.
Why Kalaari invested in Zluri?
Zluri offers the best solution for mid-market companies to easily manage their SaaS Spend. In evaluating Zluri, we found this to be an emerging large market opportunity having a well-defined problem with many companies actively looking for solutions.
Zluri has the most comprehensive suite of application integrations among all SaaS platforms making the product truly out of the box. Their proprietary algorithms allow seamless onboarding and immediate integration for users with a value-driven pricing model, leapfrogging competing products that take over 2 days.
The founders — Chaitanya, Ritish & Sethu have worked together for a long time and bring complementary skillsets to the table. They are extremely organized and meticulous about goal setting & progress tracking. Throughout the diligence process, we have found them to be responsive and comprehensive in sharing information. They actively engaged the investors — Kalaari and Endiya in problem solving and delivering promising early traction.
From Sethu, CEO of Zluri: “As an early-stage investor, Kalaari Capital has always bet on emerging trends and technologies. SaaS Apps Management is an emerging trend in the workplace automation and productivity space, and we wanted a partner who can work with us closely as we shape up this space. Kalaari turned out to be a great partner”
We would like to thank Sateesh of Endiya Partners for syndicating the investment with us.
We are privileged to partner with the founders at Zluri as they execute on their vision as they bring their SaaS management platform to every company and help them effectively manage their SaaS application stack.
Kalaari Capital is an early-stage venture capital firm based out of Bengaluru India. If you are an entrepreneur (or know an entrepreneur) building a company in the SaaS Space, please write to us at firstname.lastname@example.org.
Wish to work with Zluri? They are actively hiring Senior Software Engineers, Data Engineers, Technical Recruiters, and Demand Generation Engineers. Please share your candidature or references at email@example.com or visit their Careers page here.