Zylo, an Indianapolis-based SaaS Management company, raised $31.5m in Series C funding.
The round was led by Baird Capital’s Venture Team with participation from Spring Lake Equity Partners and existing investors Bessemer Venture Partners, Menlo Ventures, and High Alpha, as well as strategic partner and investor Coupa Ventures.
The company intends to use the funds to accelerate product innovation and hiring, expanding go-to-market and engineering teams in the Indianapolis area, along with hybrid hiring throughout the country.
Led by Eric Christopher, CEO, Zylo allows organizations worldwide with a platform to find, manage, and reduce SaaS application spend, sprawl, and risk. Companies such as Adobe, Atlassian, Coupa, Doordash, Intuit, Slack, Salesforce, and Yahoo leverage Zylo’s enterprise-proven technology and SaaS Management expertise to control the rising costs and risks of SaaS while improving software adoption by employees and driving innovation.