Zylo provides a SaaS management platform that taps AI to analyze spend and usage in real time and creates a system of record for enterprise subscription software. The product surfaces a company’s portfolio, licenses and pricing against industry benchmarks and operationalizes renewal management to drive cost-avoidance and savings. Zylo sells mainly to corporate IT and finance teams and reports having over 30 million SaaS licenses and $30 billion in SaaS spend under management. The company has about 125 full-time employees, the majority based in Indianapolis, and recently doubled new business year-over-year while beating its previous growth record by close to 30%. Management says the bulk of new capital will be used for product development, hiring, talent investment and customer acquisition. Zylo competes with other SaaS spend vendors but emphasizes ease of use and comprehensiveness as its differentiators. Zylo offers an enterprise management platform that helps businesses manage their SaaS application portfolios by creating transparency around SaaS spend, license utilization, and user feedback. The platform enables customers to discover, manage, measure, and optimize their SaaS investments. Zylo reports managing over $10 billion in SaaS spend and nearly 1 billion employee SaaS-based interactions for its customers. Notable customers include Nike, Adobe, Slack, Autodesk, Zendesk and Atlassian. Led by co-founder and CEO Eric Christopher, the company intends to use new funding to grow its workforce across engineering and data science and to expand development efforts. The company is based in Indianapolis and has raised more than $35 million to date. Zylo provides one system of record for all SaaS and cloud-based software used across an organization, giving visibility into what software is used, how much is spent and how to optimize investments. The platform helps enterprises discover SaaS applications, manage complex renewals, measure real-time utilization and optimize software licenses. Zylo integrates with a range of tools including Concur, Expensify, G Suite, Intacct, Microsoft Office 365, Netsuite, Okta, OneLogin, Salesforce, Slack and Veeva Systems. The platform is managing over 1 million unique SaaS user licenses and more than $1 billion of annual SaaS subscription spend on behalf of customers. Zylo serves dozens of large enterprises across pharmaceutical, financial services, cloud consulting and technology sectors. The company plans to use new funding to significantly grow its team—prioritizing customer success and engineering—and to expand its platform capabilities. Zylo launched in June 2016 out of High Alpha Studio and previously raised a $3.3 million seed round in October 2016. Zylo offers a SaaS optimization platform that acts as an online command center for managing cloud-based applications, surfacing what software is used, how much is spent, and where to optimize. The platform provides insights into spend, utilization and user feedback for companies’ SaaS subscriptions and has an announced integration with identity provider Okta. Customers named in the article include Appirio, Zendesk, Smartling and Power Reviews. Zylo launched in June 2016 out of High Alpha Studio and is headquartered in Indianapolis. The company recently secured $3.3 million in seed funding and will use the proceeds to grow sales, marketing and engineering teams and expand the platform. Zylo plans to hire engineers with expertise in data science and machine learning to support its product roadmap.

Total raised

$67M

Funding rounds

4

Latest round

Series C

Latest activity

Dec 2022