Indianapolis-based tech startup Zylo has completed a $3.3 million round of funding. The company, which launched earlier this year, says it will use the funds to grow its sales, marketing and engineering workforce and expand its "online command center" platform.
The funding came from a number of investors, including Don Brown, founder and chief executive officer of Indianapolis-based Interactive Intelligence (Nasdaq: ININ), ExactTarget Co-founder Peter McCormick and High Alpha Capital. Zylo hasn’t released its specific hiring plans, but a spokesperson says the company does plan to "grow aggressively over the next year" following this round of funding.
Zylo’s software-as-a-service, or SaaS, optimization platform provides technology it says serves as an "online command center" for cloud-based software used by its clients.
"With SaaS spending surpassing $200B per year, we see an enormous opportunity for Zylo to become the definitive software platform that organizations rely on to better manage and optimize their mission critical SaaS investments," said Eric Christopher, CEO of Zylo. "We’re thrilled to be working with such an impressive group of Silicon Valley investors, SaaS experts and software luminaries who are committed to help us achieve our big vision for the future of SaaS."
Zylo says it has grown from one to 10 employees since it launched in June and has plans to hire engineers with specific expertise in data science and machine learning.