Israeli SaaS co Salto raises $27m

Israeli SaaS company Salto has announced a $27 million Series A financing round led by Bessemer Venture Partners, Lightspeed Venture Partners and Salesforce Ventures.

The company, founded by serial entrepreneurs CEO Rami Tamir, Benny Schnaider and Gil Hoffer, has emerged from stealth and launched its SaaS solution for business application configuration. After their success with previous companies - Pentacom (acquired by Cisco), Qumranet (acquired by Red Hat) and Ravello Systems (acquired by Oracle) - they founded Salto to fundamentally change the way companies configure and manage their business applications.

Tamir said, "We realized the challenges BizOps teams face are very similar to the problems encountered by software and DevOps engineers on a daily basis. So we adapted software development fundamentals and best practices to the BizOps field. There's no need to reinvent the wheel; the same techniques used to make high-quality software can also be applied to keeping control over business applications."

Published by Globes, Israel business news - en.globes.co.il - on October 27, 2020