Zylo and Kenzie Academy top Indianapolis' recent funding news

Zylo and Kenzie Academy top Indianapolis' recent funding news
Photo: Zylo/Glassdoor
By Hoodline - Published on October 04, 2019.

Indianapolis-based saas company Zylo has secured $22 million in Series A funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced Sept. 26 and led by Menlo Ventures.

According to its Crunchbase profile, "Zylo provides SaaS management platform designed to optimize cloud-based subscription. The company's platform allows users to gain visibility into hidden employee expenditures and manage contract renewals, understand the utilization of SaaS subscriptions across the organization to capture sentiment and specific insights, enabling clients to discover, manage, measure and optimize their SaaS investments."

The four-year-old startup has raised three previous funding rounds, including a $100,000 round in 2018.

The round brings total funding raised by Indianapolis companies in internet services over the past month to $23 million. The local internet services industry has seen 10 funding rounds over the past year, raking in a total of $93 million in venture funding.

In other local funding news, education and consulting company Kenzie Academy announced a $7.8 million Series A funding round on Sept. 30, led by Rethink Education.

According to Crunchbase, "Kenzie Academy provides a solution to the dramatic shortage of tech talent in the U.S., by reimagining higher education for the tech sector. Kenzie Academy is a tech apprenticeship school focused on education, mentorship, and job placement. They offer 6-month to 2-year programs with a paid apprenticeship after 6 months."

Founded in 2017, the company has raised three previous rounds, including a $4.2 million seed round in 2018.

This story was created automatically using local investment data, then reviewed by an editor. Click here for more about what we're doing. Got thoughts? Go here to share your feedback.