Zenskar, a New York and Bengaluru-based startup aiming to help SaaS companies automate their billing workflows, has raised $3.5 million in a seed funding round.
The seed funding round was led by Bessemer Ventures Partners, with participation from Shine Capital, Basecamp Fund, and Converge.
Zenskar plans to use its fund to expand the team of its engineers, hiring across key engineering roles — full-stack engineers, senior engineers & architects, and head of engineering.
It also aims to go beyond SaaS billing and bring solutions to automate accounting, facilitate payments, and provide analytics to companies in sectors such as telecom, transportation, IoT, and media.
“We fundamentally believe that going forward, engineering bandwidth in companies will continue to decline, and software solutions that need to be adopted will need to be adopted by non-technical users,” said Apurv Bansal, co-founder of Zenskar.
Company: Evolve Bits Inc.
Raised: $3.5M
Round: Seed Round
Funding Month: October 2022
Lead Investors: Bessemer Ventures Partners
Additional Investors: Shine Capital, Basecamp Fund, and Converge
Company Website: https://zenskar.com/
Software Category: Billing Software
About the Company: Founded by Apurv Bansal and Saurabh Agrawal with a vision to provide an integrated suite of financial products that seamlessly automates the entire quote-to-cash cycle, starting with billing, accounting, usage metering, payments, and receivables management. Zenskar is building a platform for SaaS companies to generate bills for their complex pricing plans—based on usage-based pricing, subscriptions, nuanced discounts, credits, custom currencies, and prepaid or ramp deals.
Source: https://techcrunch.com/2022/10/03/saas-billing-platform-zenskar-funding-bessemer-ventures-partners/