Torii provides a SaaS management tool that discovers an organization’s cloud applications, analyzes usage and spend, and automates actions to improve ROI, governance, and security. The company surfaced metrics from customer data showing organizations add an average of 19 new cloud apps per month, 75% of which are non‑sanctioned, and that roughly 35% of app licenses go unused. Torii has grown quickly, reporting over 300% growth in annual recurring revenue and serving customers including Instacart, Carrier Corporation, Bumble, Athletic Greens and Palo Alto Networks. The team expanded from 15 employees after the Series A to 70, and the company plans to scale to about 200 employees by the end of 2022. Product plans emphasize increasing the number of integrations (over 130 tools today) and investing in product engineering, marketing, sales and customer success. The company frames its product as addressing rising spend, waste, and security complexity as enterprises adopt more cloud tooling. Torii offers an automation engine that discovers and manages an organization’s SaaS tools and a no-code workflow engine to automate actions like employee onboarding and offboarding. The product is positioned to reduce SaaS sprawl by aggregating signals from multiple sources to create a trusted inventory and drive automation. Customers named in the article include Delivery Hero, Monday.com and Palo Alto Networks. Revenue grew 400% year-over-year last year. The company expanded its headcount from roughly a dozen to 25 employees and plans to reach 60 by the end of the year. Torii is working to expand the platform to add product recommendations and features for compliance and cost control; Uri Haramati, a co-founder and CEO, previously helped launch Houseparty and Meerkat. Torii provides a SaaS management platform that lets IT managers discover, audit, vet and control the SaaS apps employees use, optimize license utilization, and set up automated workflows. The product emphasizes visibility, insights and workflow automation to reduce manual, error-prone IT tasks. Torii says its roadmap will add more sophisticated and customizable automation components to the platform. The company plans to use recent funding to build a U.S.-based sales and customer success team to handle platform demand. Torii is already used by customers including Monday.com, SimilarWeb, Typeform, Payoneer, ClassPass, Delivery Hero and Thrive Global. The team is led by CEO Uri Haramati, with experienced engineering and product leadership and an advisor from Palo Alto Networks.

Total raised

$64M

Funding rounds

3

Latest round

Series B

Latest activity

Feb 2022