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Zylo Raises $9.3 Million for Managing SaaS Cloud Applications

Thursday Jan 25th 2018 by Sean Michael Kerner

The Zylo platform includes spend and vendor management, utilization measurement and license optimization capabilities.

As organizations increasingly turn to the cloud to deploy and run Software-as-a-Service (SaaS), there is a need to understand and optimize all the different apps and services that running. That's where startup Zylo has found its niche.

Zylo was started in June 2016 and has been growing steadily ever since. On Jan. 23, the company announced that it had raised $9.3 million in a Series A round of funding led by Bessemer Venture Partners and including the participation of Salesforce Ventures and the Slack Fund.

"The cloud computing revolution is underway, and the next big stage involves more strategic management of cloud investments by leading enterprises," Byron Deeter, partner at Bessemer Venture Partners stated. "Zylo is a forward-thinking SaaS optimization platform that transforms the way organizations think about and manage their SaaS."

The Zylo platform includes spend and vendor management, utilization measurement and license optimization capabilities. In August 2017, the company added a data science practice to help organization better understand SaaS utilization.

Zylo claims to manage over 300,000 unique SaaS user licenses, and it integrates with multiple leading applications from Salesforce, Slack, Okta, Netsuite, Onelogin, Concur, Veeva Vault, Veeva CRM, Expensify, G Suite by Google Cloud and Microsoft Office 365.

"Zylo is pioneering a new category of software and we are thrilled to assemble a dream team of investors who are going to help us extend our market leadership much further," Zylo CEO Eric Christopher stated. "With the support of Bessemer Venture Partners, Salesforce Ventures, the Slack Fund and Byron’s addition to our board, we are well on our way to building the new enterprise standard of how cloud software is managed."

Sean Michael Kerner is a senior editor at EnterpriseAppsToday and InternetNews.com. Follow him on Twitter @TechJournalist.

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