A software company spawned from Indianapolis-based venture studio High Alpha has landed a more than $9 million round of funding. Zylo, which bills itself as an online command center for cloud-based software, says the funding will allow it to "significantly grow" its team.
The funding came from Bessemer Venture Partners, Salesforce Ventures and the Slack Fund. High Alpha Capital, GGV, SV Angel and Hyde Park Venture Partners were repeat investors. Byron Deeter, a partner at Bessemer Venture Partners, will join Zylo’s board.
In addition to growing its customer success and engineering team, Zylo says the funding will allow it to expand its platform. The company says its platform organizes and provides transparency for data, manages complex renewals, measures real-time usage and optimizes software licenses.
Zylo launched in 2016 as the third startup from High Alpha. and announced a $3.3 million seed round later that year. Chief Executive Officer Eric Christopher says the company is "pioneering a new category of software" in the $100 billion subscription-based software market.