![]() “Their solution is hands-down better than anything on the market when it comes to discovering all apps including Shadow IT, automating actions like offboarding SaaS sprawl, and optimizing licensing." ![]() Torii makes it simple,” said Jonathan Cupples, Director of Global Digital Operations, Athletic Greens. Getting a handle on all these apps and their costs is incredibly important, and just as difficult. "Athletic Greens relies on cloud apps to run our fast-growing business. ![]() More than 33% of app licenses are subsequently unused or wasted, according to The ITAM Review. ![]() “Tiger’s investment is an incredible validation of Torii’s unique worldview – one in which IT teams empower their employees to accelerate innovation, instead of constantly chasing Shadow IT.”Īccording to Torii’s customer data, organizations add an average of 18-19 new cloud applications to their tech stacks every month – 75% of which are non-sanctioned, have not been reviewed, and may not be compliant with security policies. It’s now easier than ever for any employee to trial, deploy, integrate, and expense any new cloud application,” said Uri Haramati, Founder and CEO of Torii. “The old way of centralized decision-making doesn’t work in the cloud. This eliminates millions of dollars spent on wasted licenses and hundreds of hours dedicated to manual user operations – all while helping to protect sensitive data flowing through hundreds of known and unknown third-party apps. Not only can customers easily discover all of their apps with Torii, they can quickly and automatically take the actions needed to propel business. Unlike conventional SaaS management tools, Torii empowers entire businesses to come together around their cloud apps and stay in perfect sync as they evolve their tech stacks in a distributed, decentralized manner. Torii’s fundamentally different approach to cloud application management has paved the way for its rapid market adoption. We’re excited to help Torii on their journey.” “Not only are they pioneers in a high-growth market, their visionary approach and high customer satisfaction demonstrate they have what it takes to become the de facto SaaS management platform for enterprises and SMBs alike. "Investing in Torii was an easy decision,” said John Curtius, Partner at Tiger Global. Previous investors including Wing Venture Capital, Global Founders Capital, Uncork Capital, Entree Capital, and Scopus Ventures also participated in the round. Revenue is up more than 300% year over year thanks to customers like Instacart, Carrier Corporation, Bumble, Athletic Greens, and Palo Alto Networks. This latest round comes on the heels of Torii’s hypergrowth. NEW YORK-( BUSINESS WIRE)- Torii, the #1 Automated SaaS Management Platform (SMP), today announced it has raised $50 million in Series B financing led by Tiger Global Management, bringing its total funding to $65 million.
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