NEW YORK--(BUSINESS WIRE)--Intello, the intelligent SaaS (software-as-a-service) optimization provider, today announced a $1.3M funding round and public launch of their platform. The round was led by Emerge with participation from BoxGroup, Blacktop, Kaedan, and Tectonic. Additional investors in the round include InVision founder Clark Valberg, The Muse founder Kathryn Minshew, and Sense360 founder Eli Portnoy. The company will use the funding to accelerate product development and rapidly grow their engineering team in New York.
Intello’s end-to-end SaaS optimization platform unlocks full visibility into an organization’s SaaS spend, usage and compliance. The platform leverages direct integrations with Quickbooks, Netsuite and Salesforce and a proprietary browser extension, to create one system of record to manage SaaS applications.
“The explosion of SaaS has led to significant issues for finance and IT teams tasked with keeping up and managing the ever-growing subscriptions, licenses, renewals and security of software applications,” said Barak Kaufman, Intello’s Co-Founder & CEO. “We’ve built an automated platform to manage the purchasing and compliance lifecycle of SaaS applications.”
Intello has seen increased demand from companies needing to comply with the General Data Protection Regulation (GDPR) in Europe. GDPR, which takes effect on May 25th, enforces strict regulation for data collection and processing. Companies need a complete understanding of 3rd party software in-use and where their customer’s data is being stored. Intello’s platform automates the initial auditing process and then monitors for real-time usage of SaaS applications, including Shadow IT.
“Intello has already won the trust of world class companies,” said Dovi Ollech, Founder and Managing Partner of Emerge. “We’re thrilled to be working with the Intello team to build the next-gen platform for SaaS optimization.”
Intello is a leading SaaS discovery, management and optimization provider. By integrating with existing cloud software and leveraging a proprietary browser extension, Intello provides companies with real-time visibility into their SaaS data. Save money on unused subscriptions and automate software vendor compliance with intelligent SaaS optimization. For more information, visit www.intello.io or follow us on Twitter @intello_io
Emerge is a Tel Aviv based venture capital firm investing primarily in early stage startups that operate in diverse verticals and powered by deep technology. The fund’s investors and advisors are founders of leading global technology companies, creating a strong and unique network. For more information, visit www.emerge.co.il