Torii - an Operating System for SaaSJake Flomenberg | February 18, 2021
The software management market has existed since the proliferation of on-premise software began. In analyst speak it came to be referred to as software asset management or SAM and covered things like license management, audit, and compliance. That said, local on-prem software licenses were initially quite hard to track and interface with - many lacked robust APIs and easy access from outside of a company’s network.
Over the past decade, SaaS has gone from the exception to the norm. With the interconnectedness and ease of data collection that SaaS affords, it is possible to unlock far more efficiency gains in the realm of software management through intelligence-driven automation than was possible on-premise. Programmatic API access from anywhere is in the very DNA of cloud-born SaaS companies. With these deep APIs, it is now not only possible to get real-time information about what is going on within an app but also to trigger actions within and across apps. The opportunity with SaaS is much greater both in scale and in terms of what value can be unlocked than what has come before.
A Team that Feels the Pain
Thus, I was quite excited to meet a team that had truly felt the burden of SaaS management. Each of the founders experienced the pain of SaaS management firsthand as leaders of their respective companies, software budget holders, and decision-makers.
Between Uri Haramati, former founder/head of product at Houseparty, Uri Nativ, former site lead for Klarna Israel, and Tal Bereznitskey, former VP R&D at Bizzabo, the founding team has a tremendous product and engineering depth that enabled them to appreciate the true complexity of the problem as well as the true scope of the opportunity. They came together because they each had felt the pain and believed that they could solve this problem with software. It’s the type of authentic founder market fit we look for at Wing.
Torii - an Operating System for SaaS
Everything we do at Wing aims to help realize the concept of the Modern Enterprise: an agile workplace, built on data and powered by AI. Torii’s vision for the future of SaaS management aligns nicely with this.
For Torii, it starts with the right data. Torii leverages multiple signals from browser extensions, identity management systems, ERPs, HR systems, deep integrations with enterprise platforms that often connect to other systems (eg Slack, Github) as well as expense management systems. Using machine learning, millions of data points are matched across disparate sources to create a unified software graph data model that IT professionals can trust and take action against. On top of this, Torii offers robust spend management which offers full visibility into enterprise-wide SaaS usage, spend, and security/compliance.
While this core functionality is critical, what truly distinguishes Torii is its automated, no-code workflows. Torii’s orchestration engine offers an easy-to-use no-code engine to create and deploy automation workflows for every SaaS application and internal IT process. Thus, Torii can not only help IT departments save money but it can also help individual IT practitioners save time. Users can build playbooks and workflows against the unified software graph for almost anything they can imagine. This generally starts with workflows to reduce the human effort involved in high occurrence, mundane efforts - whether it be offboarding a user, adjusting a user’s permissions when they switch departments, or requesting information/approving new software that someone wants to use, etc. Automating these processes frees up time to focus on more cerebral, higher value add tasks.
While I’ve made investments since the COVID-19 pandemic began, I’ve had the opportunity to meet the founders face to face at some point - oftentimes building upon existing relationships before the pandemic began. Torii is my first Series A investment where I have yet to meet the team in person - although I am very much looking forward to changing that.
All of us at Wing are thrilled to partner with Uri, Uri, Tal, and the rest of the team at Torii alongside Entree Capital, Global Founders Capital, Scopus Ventures, and Uncork Capital.
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