Torii, a U.S.-based software-as-a-service (SaaS) provider, has reportedly secured $10 million through its Series A funding round. Founded in 2017, Torii stated its mission is to help modern IT drive the business forward by making the “best use” of SaaS.
“We help IT professionals gain total control over managing SaaS applications with the world’s first automation-centered SaaS management platform. Torii automates the discovery, spend optimization, operations and compliance of SaaS to help organizations reduce spend, free IT time from manual tasks, and manage SaaS sprawl.”
According to TechCrunch, the Series A funding round was led by Wing Venture Capital with participation from Entree Capital, Global Founders Capital, Scopus Ventures, and Uncork Capital. The investment round notably brings the total amount raised by Torii to $15 million. While sharing more details about the company, Uri Haramati, Co-Founder and CEO of Torii, revealed to the media outlet:
“We all felt the changes around SaaS and managing the tools that we were using. We were all early adopters of SaaS. We all [took advantage of SaaS] to scale our companies and we felt the same thing: The fact is that you just can’t add more people who manage more software, it just doesn’t scale.”
The company is planning to use the funds to continue the development on the SaaS products.