This article details information about two SaaS for SaaS startups and their latest rounds of respective funding.
You might be familiar with what the term “SaaS” stands for. In brief, it means “software as a service” and it’s a very popular thing these days.
SaaS examples include programs such as Salesforce, Dropbox, and even Google Apps.
So, it might come as no surprise to the technologically savvy that SaaS for SaaS programs are quickly becoming an established thing. In fact, two major startups both received several million dollars USD in their latest funding rounds.
What are these companies and why is SaaS for SaaS increasing in popularity?
Zylo: Helping Companies Cut the Fat
Processing data and synthesizing actionable data matters in business these days.
Many people look to APIs, AI, and crowdsourcing as viable strategies. But data science extends beyond management and insights. And, frankly, many companies have a glut of programs costing them time and money.
That’s why software as a service now exists for other software as services.
Zylo, an Indiana-based startup, aims to improve company productivity through understanding how various businesses use SaaS and how much they spend on it.
Forbes cited that the average Zylo customer often underestimates the amount they spend on SaaS by three to five times. Since cloud subscriptions and services are still relatively new, many companies don’t have efficient ways to manage them just yet.
As such, Zylo secured $9-million in funding in January of this year. But they aren’t the only Saas-for-SaaS game in town.
Blissfully Continues Trend with $3.5-million Investment
The New York startup Blissfully offers similar services to Zylo. CEO Ariel Diaz lauds the streamlining processes of this startup, having helped create Blissfully out of necessity.
Their database can integrate with any existing company systems such as Okta and OneLogin (single sign-on tools). It can even integrate with G Suite login information and financial reporting systems. It all hinges on automation, according to Diaz.
If you can automate the data collection, you can more easily identify what you’re using, who is using it, as well as how much money you spend on it.
Using scans, Blissfully helps clients identify SaaS they use and even SaaS they might have forgotten to cancel and no longer need. After the identification process, companies can “lean out”, thereby decreasing unnecessary spending and SaaS clutter for employees.
Blissfully offers a “freemium” model, as well as a paid version. With just ten employees, the startup supports around 500 customers. Surely their $3.5-million funding round will help them ramp up their SaaS for SaaS services in the near future.