Torii is a 10m series venture, based in Silicon Valley, and is looking to disrupt the insurance industry by using Machine Learning to make insurance simpler, faster, and more affordable. Its team of founders, led by former Goldman Sachs partner Andrew Yang, are bringing together the best of both worlds: deep industry expertise, and a vision for a radically different customer experience. The company has already raised over $130 million from investors, and is reportedly aiming to raise another $100 million in the next few months. Whether it can do this is an open question, but one thing is for sure: if it can succeed, its impact will be far-reaching.
Founders
During the last decade SaaS has taken the world by storm. It has made working anywhere and everywhere a reality, and the best part is that it has also sped up the employee experience. However, managing this tidal wave of technology can be a daunting task. So, Torii is trying to make life just a little easier. They offer enterprise class SaaS management solutions. The company boasts a small team of 30 employees at their headquarters in the aforementioned Tel Aviv suburb of Ra’anana. In order to stay ahead of the competition, they have tapped into their burgeoning data science department to build a big data platform spanning hundreds of thousands of data points.
Platform
Torii is the creator of the world’s first distributed SaaS management platform. It helps organizations manage users, spend and security. With its advanced integrations and deep data science, it helps reduce hundreds of hours of manual operation.
In its latest funding round, Torii closed $10 million in Series A funding led by Wing Venture Capital. It will use the money to expand its engineering team in Israel and expand its product line.
Torii’s platform includes an orchestration engine that allows companies to automate any SaaS application. This no-code solution is simple to use, but is also capable of complex and advanced tasks.
Torii’s software graph data model analyzes millions of data points. This enables it to provide a unified view of all the apps in an organization, including all the applications that it can manage.
Automation
Software-as-a-Service has changed the way we work. Today, we use SaaS to work from the web, remote, or on our own devices. However, managing SaaS has not become easy. Whether it’s managing security or licenses, securing sensitive data, or negotiating contracts, it’s difficult to do it alone. That’s why Torii is working to make managing SaaS easier.
The Torii SaaS management platform is designed to give enterprise IT professionals complete visibility into their organization’s SaaS spend, tools, and security. It provides automated workflows that take care of repetitive and mundane tasks. For example, the platform helps users discover new apps. Users can also build workflows against a unified software graph. Using machine learning, the platform can analyze millions of data points.
Machine learning
Torii is an enterprise SaaS management company that uses machine learning to analyze data. It has been able to achieve rapid growth. With the recent Series A round of funding, Torii raised $10 million, which included Uncork Capital, Wing Venture Capital, Global Founders Capital and Scopus Ventures.
The NYC-based startup focuses on the automation and discovery aspects of SaaS management. Torii’s unique approach is to leverage multiple signals from enterprise systems and software platforms to help companies find and manage apps. This helps them to cut down on the time spent on mundane tasks and saves money.
Torii also has a strong spend management component, which provides full visibility into enterprise SaaS expenditure. In addition, the SaaS management platform allows users to automate any SaaS application across their corporate network and devices.
Revenue growth
A recent report shows that revenue growth for a SaaS 10m series venture is likely to be quite modest. But there are several reasons why a company would be interested in it, including its potential to drive down costs, and to streamline processes. The report found that 9% of all SaaS applications will be deployed in 2020, and that one in four employees will be using SaaS.
Torii’s platform uses automation to manage and monitor SaaS and other technology products, while protecting sensitive data flowing through third party apps. It allows companies to make smart decisions about how to deploy these services. And in doing so, it could save businesses hundreds of hours of manpower.
