We’re thrilled to publicly launch Intello today!
Check out the coverage in TechCrunch and VentureBeat. We’ve been hard at work building the product for over a year, and thanks to the feedback from our amazing customers, added many new features. As part of the announcement, we wanted to share more of our story.
While working on the investment team at Insight Venture Partners, a global SaaS investor with more than $18 billion in capital and 300+ software portfolio companies, I saw first-hand how quickly the SaaS market was proliferating. Everyday I’d hear about another incredible SaaS product that solved a real pain-point for customers, but I couldn’t help thinking “another one?”
My roommate at the time, Shlomo Dalezman, was a Senior Engineer at The Muse. Shlomo was constantly tinkering with new products, each of them sold as a recurring subscription. The Muse grew from 10 to 150 employees and it was natural that he’d churn from a few of the applications that didn’t scale. We began to wonder how any finance or IT team could keep up with managing the ever-growing amount of SaaS applications.
We reached out to our network and spoke to managers at many organizations (CFOs, IT Directors, COOs, CIOs). To our surprise, they were relying on outdated spreadsheets to monitor spend, time-consuming audits to aggregate license usage, file storage folders to centralize contracts, calendar notifications for renewal management, and the list goes on. It became obvious that this simply won’t scale in a SaaS-first world.
The global enterprise software market is expected to reach $381B this year, growing at an accelerating rate of 9% (Gartner 2017), and the way companies are adopting SaaS products has changed. There is rarely an individual decision-maker making an executive decision to purchase a solution. Rather it’s a decentralized and bottoms-up process which begins with employees signing up for services on their own. Many of these applications aren’t authorized (“Shadow IT”), leading to massive compliance headaches. Additionally, the lack of visibility into license usage has led to an estimated 38% of spend wasted on unused licenses (1E Report 2016).
We realized companies desperately needed a next-gen platform to manage the SaaS lifecycle, so we quit our jobs and started Intello. Intello helps companies discover, manage, and optimize their SaaS applications.
Intello enables companies to rapidly scale their operations by empowering employees to use best of breed SaaS applications. We’re providing the necessary platform to identify and report on real-time software spend, usage, and feedback. Yes, we’re SaaS to manage SaaS ☺️
Our mission is to create a more transparent SaaS ecosystem. We’re going to continue releasing features and products that improve the software procurement experience.
Tell your IT or finance manager about Intello and let us know (barak [at] intello.io) if you have any feedback or suggestions.