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Alternative Assets  + VC  | 
SaaS Start-up Zylo Lands $31.5M Series C Funding, Led by Baird Capital

SaaS Start-up Zylo Lands $31.5M Series C Funding, Led by Baird Capital

Software-as-a-service (SaaS) start-up company Zylo Inc. has secured another $31.5 million in funding.

The Series C round was led by Baird Capital’s Venture Team and included participation from new investor Spring Lake Equity Partners, as well as existing backers Bessemer Venture Partners, Menlo Ventures, High Alpha and Coupa Software Inc., which is also a strategic partner.

To date, the company has raised more than $66.5 million: It secured $3.3 million in seed funding in October 2016, $9.3 million in Series A funding in January 2018, and $22.5 million in Series B funding in September 2019.

Indianapolis-based Zylo helps customers manage their other SaaS subscriptions. The company’s customer roster includes Adobe, Doordash, Intuit, Slack, Salesforce and Yahoo, among others.

According to Zylo’s own data, the average enterprise firm uses more than 300 different SaaS applications and overspends on licenses and subscriptions by around 15% annually.

“Baird Capital clearly recognizes the value that Zylo provides to their customers through SaaS management and believes it is of even increased importance in the current economic climate,” Baird Capital Partner Benedict Rocchio said.

Rocchio has also joined Zylo’s board.

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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