Total amount raised
$71.7 Million
Latest funding date
02/01/2023
Location
Zylo has successfully raised funds through 6 rounds, with the most recent being a Series C round led by MassMutual Ventures. The company is backed by 18 investors, including Spring Lake Equity Partners.
Keep reading to explore the intricacies of Zylo's fundraising journey and the investors backing this innovative platform.
What Is Zylo?
Zylo, based in Indianapolis, Indiana, operates within the industries of Analytics, Cloud Management, Enterprise Software, Information Technology, and SaaS. The company specializes in helping users discover, optimize, and govern their SaaS portfolios while enhancing the employee experience.
With an employee count ranging from 101 to 250, Zylo has established itself as a significant player in the SaaS management solutions market. The company has been recognized as a leader in the Gartner Magic Quadrant for SaaS Management Platforms and has received accolades such as the "Customers' Choice" in the 2025 Gartner "Voice of the Customer" report.
How Much Funding Has Zylo Raised?
- Seed Round
- Amount Raised: USD 3,300,000
- Date: October 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop its initial SaaS management platform.
- Series A
- Amount Raised: USD 9,300,000
- Date: January 2018
- Lead Investors: Bessemer Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series Unknown
- Amount Raised: USD 100,000
- Date: February 2018
- Lead Investors: Revolution’s Rise of the Rest Seed Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage growth and market entry.
- Series B
- Amount Raised: USD 22,500,000
- Date: September 2019
- Lead Investors: Menlo Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Series C
- Amount Raised: USD 31,500,000
- Date: November 2022
- Lead Investors: Baird Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel growth and solidify market leadership.
- Series C (Additional)
- Amount Raised: USD 5,000,000
- Date: February 2023
- Lead Investors: MassMutual Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue growth amid economic uncertainty and demand for smart spending.
Total Amount Raised: USD 71,700,000. Current Valuation: Not publicly disclosed.
Key Investors
- MassMutual Ventures
- Details: MassMutual Ventures is the venture capital arm of MassMutual, focusing on early and growth-stage companies. They manage over $1 billion in investment capital globally.
- Investment Focus Areas: Financial technology, enterprise SaaS, digital health, climate technology, cybersecurity.
- Notable Investments: Socure, Insurify, Goodpath.
- Baird Capital’s Venture Team
- Details: Baird Capital invests in technology-enabled services, healthcare, and industrial solutions. They led Zylo's initial Series C funding round.
- Investment Focus Areas: Technology-enabled services, healthcare, industrial solutions.
- Notable Investments: NowSecure, Hireology.
- Spring Lake Equity Partners
- Details: Spring Lake Equity Partners invests in growth-stage technology and technology-enabled services companies. They participated in Zylo's Series C round.
- Investment Focus Areas: Technology, technology-enabled services.
- Notable Investments: Everbridge, Invaluable.
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a global venture capital firm investing in a wide range of sectors. They are an existing investor in Zylo.
- Investment Focus Areas: Cloud computing, consumer, healthcare, financial services.
- Notable Investments: LinkedIn, Shopify, Twilio.
- Menlo Ventures
- Details: Menlo Ventures invests in consumer, enterprise, and life sciences companies. They are an existing investor in Zylo.
- Investment Focus Areas: Consumer, enterprise, life sciences.
- Notable Investments: Uber, Roku, Warby Parker.
What's Next for Zylo?
Zylo stands at the cusp of significant opportunities, driven by the growing need for effective SaaS management. With organizations increasingly focused on cost savings and efficiency, Zylo's platform is well-positioned to help companies manage their SaaS portfolios, reduce expenses, and drive innovation. The company has already identified nearly $3.2 billion in wasted SaaS spend, highlighting the vast potential for optimization and cost savings.
As Zylo continues to expand its customer base and enhance its platform, future fundraising opportunities are likely to arise. The strong investor interest, evidenced by the recent $5 million addition to their Series C funding, suggests that Zylo may attract further investment to support its growth and innovation. This financial backing will be crucial as the company navigates the complexities of a growing market and increasing competition.
However, Zylo will face challenges along the way. Economic uncertainty and the pressure on organizations to reduce expenses could impact customer budgets and spending on SaaS management solutions. Additionally, the need to continuously innovate and stay ahead of competitors will be essential for maintaining market leadership. Despite these challenges, Zylo's strong growth trajectory and strategic positioning indicate a promising future.
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