UPDATED 22:40 EST / OCTOBER 13 2016

NEWS

SaaS optimization platform provider Zylo raises $3.3 million seed round

Software as a service optimization platform provider Zylo Inc. has raised $3.3 million in seed funding from investors including High Alpha Capital, GGV Capital, SV Angel Don Brown, Peter McCormick and Mark Hill.

Founded in 2015, Zylo offers a SaaS optimization platform that promises to transform how companies manage and optimize the vast and accelerating number of cloud-based applications they now rely on. The company’s platform is run from an online command center that monitors cloud-based software used across an enterprise, delivering the organization visibility into what software is used, how much is spent and how best to optimize their cloud software investments.

Features include the ability to discover, normalize, and categorize cloud applications, through the provision of a rich set of tools to track, monitor, report and manage across the entire cloud stack. Using the platform, companies are able to replace outdated and inaccurate spreadsheets with an interactive and intuitive user experience that automatically updates from systems that are already run your business.

Feedback from employees is not missed out, with Zylo including embedded Net Promoter Score based surveys that allow enterprises to understand what employees think they can do without and what they like, with the ability to benchmark the feedback.

“With SaaS spending surpassing $200B per year, we see an enormous opportunity for Zylo to become the definitive software platform that organizations rely on to better manage and optimize their mission critical SaaS investments,” Zylo’s Chief Executive Officer Eric Christopher said in a statement sent to SiliconANGLE. “We’re thrilled to be working with such an impressive group of Silicon Valley investors, SaaS experts and software luminaries who are committed to help us achieve our big vision for the future of SaaS.”

The interesting aspect of what Zylo is building is that it’s a management tool for other SaaS installations — SaaS that manages other SaaS, to put it more simply. With cloud continuing to boom and enter all parts of the enterprise, Zylo’s idea and product may resonate with companies. Zylo said it would use the investment to grow its sales, marketing and engineering workforce, as well as expand its platform.

Image credit: Zylo

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