Tel Aviv-based bizops startup Salto has raised $42 million in a Series B round led by Accel. The round also saw a heavy investment from Salesforce Ventures, and follow-on investment from Bessemer Venture Partners and Lightspeed Venture Partners. Salto is expecting to use the funding to further develop customer-requested features, namely integrations with more platforms. To date, the firm has raised $69 million.
“Salto is leading the way toward modernizing the infrastructure of cloud applications. This is a much bigger problem than it was a few years ago, and it provides a very necessary layer of automation,” comments Accel Partner Philippe Botteri. “It’s a missing link, a revolution bringing a DevOps approach to cloud application configurations.”
Founded in 2019 by Benny Schnaider, Gil Hoffer, and Rami Tamir, Salto builds both an open-source and an enterprise SaaS solution that simplifies, automates, and brings together configuration, analysis, and compliance across a wide range of business applications.
In other words, Salto wants to be the one SaaS to rule all the other SaaS’s. With so many various SaaS tools employed in so many various facets of an organisation, interoperability can often be a challenge, resulting in dependencies, changes, and recursive updates between apps. Sure, it keeps the IT teams busy, but is it ultimately good for the bottom line?
“Over the past few years, we’ve seen enterprises adopt literally hundreds of SaaS applications,” says Salto CEO Rami Tamir. “Salto is the connective tissue that has been completely missing and applies widely adopted engineering principles to business operations and SaaS. We provide insights into how all the systems are configured and allow teams to untangle them, track and extend those changes across applications, and enforce a process to make each department’s stack of software operate as a cohesive whole.”