02/22/2024
Leader in enterprise SaaS Management achieves record growth and adds new Fortune 25 companies to customer base
INDIANAPOLIS – February 22, 2024 – Zylo, the enterprise leader in SaaS Management, today announced a year of record-setting growth, culminating in the largest new business quarter in company history. This historic period was further bolstered by the addition of two Fortune 25 clients and the launch of several groundbreaking product releases.
“Our exceptional growth validates Zylo’s position as the trusted leader in SaaS Management. This is just the beginning of what we can accomplish with our experienced executive team driving continuous growth and innovation,” said Eric Christopher, co-founder and CEO of Zylo. “Enterprises are realizing the need to centralize their fragmented SaaS subscriptions, which add up to a major expense and require continuous management to optimize. Managing SaaS applications has become as crucial as security, governance, and risk management for any enterprise.”
Highlights from the year include:
Revenue and customer growth: Strategic initiatives and key achievements in H1 paved the way for significant growth in H2, where incremental annual recurring revenues (ARR) skyrocketed by 72% and culminated in a phenomenal 162% year-over-year jump in Q4. This record-breaking period not only marked the largest new business quarter in company history by a significant margin but also saw the addition of two new Fortune 25 clients.
Product innovation:
- Savings Center: Zylo unveiled its groundbreaking Savings Center, which automatically detects savings opportunities, estimates impact, prescribes actions, and captures realized savings across companies’ software portfolios. This innovative feature enables users to easily quantify and demonstrate the business impact of their SaaS Management program.
- Usage Connect: Zylo launched Usage Connect, an industry-first feature that provides businesses with unrivaled centralized visibility into SaaS usage data across their entire tech stack. Usage Connect enables no-code connection into usage data for any app, unlocking thousands of applications and expanding the depth and breadth of integrations.
- Security Detail, Powered by Netskope: Through a new partnership with Netskope, a recognized leader in zero trust security and network performance, Zylo’s Security Detail enables users to see security accreditation, certifications, and risk scores directly alongside their SaaS inventory. IT and Security leaders can safeguard their digital environment by surfacing applications’ key certifications (SOC 2, FedRamp, HIPAA, and dozens more), risk scores, and attributes to identify potentially unsafe apps and understand the organization’s overall SaaS security risk.
Industry events: Zylo’s SaaSMe drew a record-breaking number of attendees in its third year, solidifying its position as the SaaS Management industry’s premier conference. Registration for SaaSMe 2024 (April 16-17) opens today, promising another year of innovative networking opportunities and thought-provoking content for IT, Procurement, and Software Asset Management leaders.
Research and thought leadership: Zylo published its fifth annual edition of its SaaS Management Index, offering trends and actionable insights from the industry’s largest database of SaaS spend, license, and usage data. The report garnered significant industry attention and further established Zylo as a trusted resource for industry insights. Get early access to the 2024 edition here.
About Zylo
Zylo is the enterprise leader in SaaS Management. Companies such as AbbVie, Adobe, Atlassian, Coupa, Intuit, Salesforce, and Yahoo leverage Zylo’s AI-powered platform and unparalleled professional services to fuel centralized SaaS inventory, license optimization, and renewal management.
With more than 30 million SaaS licenses and $34 billion in SaaS spend under management, Zylo is fueled by more data than any other provider. Only Zylo’s enterprise SaaS management platform delivers comprehensive and continuous visibility into your SaaS inventory alongside prescriptive insights and workflows that empower you to manage and optimize licenses and complex renewals. Alongside the platform, Zylo offers a suite of professional services to drive cost savings and avoidance through SaaS negotiations and manage your SaaS system of record with best-in-class strategy and execution to drive ROI and free up resources.
Having raised more than $72.5M to date, Zylo is backed by leading SaaS investors, including Bessemer Venture Partners, Menlo Ventures, Baird Capital’s Venture Team, Spring Lake Equity Partners, High Alpha, GGV, Slack Fund, Salesforce Ventures, MassMutual Ventures and Coupa Ventures. To learn more, visit zylo.com.