Torii, a NYC-based enterprise Software-as-a-Service (SaaS) management company, closed a $10m Series A financing round.
The round was led by Wing Venture Capital with participation from existing investors Entree Capital, Global Founders Capital, Scopus Ventures and Uncork Capital. Wing VC Partner Jake Flomenberg is also joining Torii’s Board of Directors.
The company intends to use the funds to expand its engineering and data science teams in Israel and commercial teams in the US.
Led by Uri Haramati, co-founder and CEO, Torii provides an enterprise class Software-as-a-Service (SaaS) management solutions for companies to make accurate intelligence-driven decisions relating to software usage, spend and compliance. The Unified Software Graph uses Machine Learning to analyze millions of events and data points across identity management systems, ERPs, collaboration platforms, HR systems, expense management systems, and internet browser extensions.
Torii is currently monitoring and optimizing more than $1 billion in total software spend and more than $4 billion in total transactions. The company is also developing new intelligence features including automatic software recommendation, compliance readiness and cost allocation.
Customers include Delivery Hero, Instacart and Payoneer, among others.