Series A funding led by Wing Venture Capital brings the total raised to $15 million
Torii, the enterprise Software-as-a-Service (SaaS) management company, today announces that it has closed a $10 million Series A financing round to automate software management in the enterprise. The financing was led by Wing Venture Capital together with the company’s existing investors Entree Capital, Global Founders Capital, Scopus Ventures and Uncork Capital. Wing VC Partner Jake Flomenberg is also joining Torii’s Board of Directors.
SaaS adoption has continued to accelerate organizations’ ability to work from anywhere, improved productivity and employee experience. As the number of SaaS tools across the enterprise grow, so does the level of sophistication, connectedness and integration. Subsequently, the technology stack has become unmanageable without considerable, dedicated IT resources.
“We’ve reached the point where SaaS can no longer effectively be managed by humans,” said Uri Haramati, co-founder and CEO, Torii. “The enterprise needs a way of managing SaaS usage, spend and security that will scale and keep employees happy, but won’t impact agility and growth. With companies deploying on average 20-plus new SaaS applications every month, this can only be achieved with intelligence-driven automation.”
Source: Prnews
