The SaaS market is a hot area to invest in and this article will explore how you can get in on the action. It will also examine the founders of the company, what they do, and how they envision the future of SaaS management. You’ll learn about the current employee size and how it might change in the future.
The founders of Torii have a mission to make managing your SaaS a breeze. Their platform boasts a no-code automation engine that can automate any IT process imaginable. With this software on hand, your IT department can save hundreds of man hours, all while protecting sensitive data.
Torii’s CEO, Uri Haramati, is a veteran of the IT industry, having co-founded Houseparty and Life on Air. He drew upon his experience to help solve a problem that plagued his former employer.
Haramati has since taken on the role of Head of Product at Houseparty. As the company continues to grow, Haramati looks to improve its product lineup with offerings in new areas. His team also added an advisory board comprising the likes of Naveen Zutshi, an expert on SaaS solutions.
The company also boasts an impressively sized customer base, including Rock Content, which saved more than a million dollars after using Torii’s solution. They have a dedicated engineering team in Israel and US-based commercial teams.
Torii’s recent round of funding was accompanied by a $10 million Series A investment led by Wing Venture Capital, with participation from existing investors such as Uncork Capital and Global Founders Capital. Its latest round also included a $50 million Series B led by Tiger Global Management.
Current employee size
SaaS has become a household name over the last decade. Torii is one company trying to take advantage of this trend. They offer an analytics tool that helps manage your software licenses. Their product can also assist with service orders. The startup has also won some big-time awards. For instance, the company was crowned the most innovative start-up in the Tel Aviv region.
Torii is currently staffed by 25 gurus, including a few neophytes. Their offices are in the Tel Aviv suburb of Ra’anana. While the team is still small, they have already grown their revenue by over 400% in the last year. On a positive note, the company has closed a $10 million Series A financing round led by Wing Venture Capital. This includes a sizable amount of VC capital from existing investors. At the same time, the team has launched a new e-commerce website allowing them to better serve their customers.
One of their most popular products is a discovery engine that will sift through the millions of files and applications your company has stored in the cloud to find the best solutions for you. In fact, one of Torii’s largest clients saved a hefty a few million dollars by using their solution. Another notable win was reducing their IT staff’s offboarding hours by a whopping 75%.
Vision for the future of SaaS management
SaaS Management is a growing practice. Today’s businesses depend on their SaaS applications to do their work. However, managing SaaS can be a daunting task.
The increasing use of SaaS presents many challenges to IT, finance, and other leaders. Fortunately, a few practices can help make SaaS more manageable. Ultimately, the key is to understand the value of SaaS and to make the right decisions to optimize your organization’s use of the SaaS technology.
For starters, an effective SaaS Management process helps business owners and IT teams manage and monitor SaaS applications. This approach can provide the necessary visibility and security to keep your organization secure. It also allows you to adopt the latest best practices for managing applications.
Getting visibility into your company’s SaaS application inventory is essential to evaluating the value of the technology. Tracking a continuously updated list of SaaS apps will prevent unplanned renewals and wasted spend. Moreover, a strategic pre-purchase review can preserve the value of a new tool.
Another important step in managing SaaS is to create an onboarding plan. Your plan should outline the roles and benchmarks involved in managing your SaaS applications.
Finally, the owner of SaaS management should be able to demonstrate the business case for renewals. Whether your organization has an automatic renewal schedule or an on-demand schedule, it’s important to have giveme5 a transition plan in place to ensure the continuity of functionality.