The SaaS market has been growing at an explosive rate. The reason for this is that more and more companies are realizing the importance of leveraging technology to gain more competitive advantage. This apsession is especially true in the areas of customer experience, finance, and automation. Hence, it is crucial for any business to invest in a SaaS solution.
A new startup out of Tel Aviv, Torii aims to automate the complexities of SaaS (Software as a Service) management. As such it has garnered the attention of the likes of such luminaries as Bumble, Tiger Global and Uncork Capital. For the past few years it has enjoyed a steady stream of funding, including a round of the philanthropic kind, a whopping $65 million, according to its founders. The company, which was founded by Tal and Uri Bereznitskey, is already employing around 30 people. On the heels of the latest round, the company timechi has announced a second round of funding, bringing the total to around $40 million.
Today’s business world is obsessed with customer experience. A good customer experience makes employees happier. In fact, companies that achieve great customer experiences have 1.5X more engaged employees. But this is not easy to do. Companies must be on top of customer service issues and must use multiple channels to reach their customers. Torii helps them achieve this by empowering cross-functional teams and removing friction from the process.
Torii’s Unified Software Graph gimnow.com allows organizations to monitor and analyze millions of data points. With this information, they can preemptively intervene with the right information. This ensures that every customer receives the best possible value from the Torii platform. It also provides companies with complete transparency into their enterprise-wide SaaS usage.
Torii is a start up announcing a $10 million Series A round of funding led by Wing Venture Capital. This is in addition to the $15 million in financing the startup has already nabbed. In addition, the company has augmented its data science team in Israel and plans to expand its operations to the US.
As for what makes Torii’s platform unique, the company’s mantra is automation. The company has developed a smart platform to help IT departments manage all the SaaS in their enterprise. It does this by leveraging data from various enterprise systems. For instance, it monitors $4 billion in software transactions a year. Plus, it claims to be able to fully automate 25% of those applications. While it’s true that a number of enterprise SaaS vendors offer similar capabilities, what sets Torii apart is its integrations with more than 100 enterprise applications.
In 2016, the average company uses 80 SaaS applications. That’s a lot of wasted licenses. But if you use Torii, it will automatically detect when you sign up for new apps and then take actions to ensure you’re using them properly. With this kind of automation, you could save hundreds of hours of manpower, not to mention millions of dollars.
Torii is a software platform that provides a holistic approach to SaaS management. Its software is designed to help businesses save money by analyzing the data they’re paying for and suggesting potential cost-saving actions. Through its automated tools, Torii can also help companies keep sensitive data flowing through known applications, secure and protected. As a result, it helps companies save tens of thousands of dollars a year.