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Zylo Raises Additional $5 Million in Series C, Reaching a total amount of $72.5 million

An additional $5 million has been secured for improvement and innovation within SaaS management
February 17, 2023

Zylo, a SaaS management platform, has raised over $72.5 million in total funding, including a recent Series C funding round of $5 million. This funding will support the company's ongoing growth as there is a high demand for intelligent spending and financial uncertainty in the market.

With more than 30 million SaaS licenses, Zylo manages over $25 billion in SaaS spend. The US-based company leverages its vast data resources to provide valuable insights and automated workflows, which help IT and finance teams to effectively manage and optimize their expanding SaaS portfolios in an efficient manner.

“By enabling organizations to manage their growing SaaS portfolios and derive the greatest value from their SaaS investments, Zylo is solving a problem that nearly every organization faces – and one that’s become more apparent in the current economic climate” - Chuck Svirk, Partner at MassMutual Ventures

Companies like Adobe, Atlassian, Coupa, Doordash, Hootsuite, Intuit, Slack, Salesforce, and Verizon Media benefit from Zylo's technology and SaaS management expertise to manage the increasing costs and risks associated with SaaS while enhancing the software experience for their employees.

“Fiscal health is critical to surviving in today’s economic climate, and continually driving cost savings is not just important in the short term, but will be well into the future. SaaS Management must be part of the conversation, as it has the most immediate impact. In fact, we identified up to 40% of unused SaaS licensing within our customer base in 2022 alone” - Zylo’s CEO, Eric Christopher

Zylo has expanded its Zybrary by adding over 2,000 new applications, and it's total SaaS spend under management has increased by more than $1 billion, bringing the total SaaS to spend under management to $30 billion.

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