Meta SaaS, an Austin, Texas-based provider of technology for companies to manage and utilize their software as a service (SaaS) subscriptions, closed a $1.5m seed funding.
The round was led by Mark Cuban with participation from Barracuda Networks, Capital Factory, Deep Space Ventures and other individual investors including data.world and Bazaarvoice Founder Brett Hurt.
The company will use the funds to further SaaS management product development, hire full-time software engineers and scale up its sales and marketing functions.
Led by Arlo Gilbert, CEO and co-founder, and Scott Hertel, CTO and co-founder, Meta SaaS Meta provides procurement, IT and finance teams with visibility into which application licenses are actually being used and by whom to avoid getting trapped into auto-renewals that they don’t need and negotiate more favorable subscriptions.
The solution leverages more than 200 pre-built integrations with major SaaS vendors to monitor login and usage data. That vendor utilization, employee activity and contract timeline data is then interpreted into actionable insights showing how much money can be saved and when, all delivered through an online dashboard.
Meta SaaS can also discover applications being used through directory services such as Microsoft Azure Active Directory, HR platforms such as Namely and Workday, financial systems such as Expensify or enterprise resource planning (ERP) software such as Intacct. This allows companies to get a more complete picture of what applications are in use and by whom.
Clients include RetailMeNot, Spredfast, Indeed, BenefitMall and Civitas Learning.