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Bessemer Ventures Partner Invests $3.5 M In Startup Zenskar

The platform plans to deploy its fund to expand the team of its engineers. However, It also eyeing to go beyond SaaS billing and bring solutions to automate accounting, facilitate payments and provide analytics to companies in sectors such as telecom, transportation, internet of things and media

Zenskar, a startup that is aiming to help SaaS companies automate their billing processes has raised $3.5 million in a seed funding round. The seed funding round was led by Bessemer Ventures Partners. The round also saw the participation from Shine Capital, Basecamp Fund and Converge.

Headquartered in New York and Bengaluru, the startup is building a platform for SaaS companies to generate bills for their complex pricing plans; whether they are based on usage-based pricing, subscriptions, nuanced discounts, credits, custom currencies, prepaid or ramp deals.

Apurv Bansal, co-founder of Zenskar mentioned that 10 per cent to 15 per cent of SaaS companies today have moved toward a consumption-based pricing model on customers’ demand because of macro tailwinds such as product-led growth, automation and AI. Simple subscriptions will only be about 30 per cent of the market, while complex subscription and consumption-based billing will cover the rest in the next decade.

Bansal and Saurabh Agrawal fonded the platform  in March — after surveying more than 120 customers to understand their challenges related to billing. “Generally, tools are built in a linear fashion,” said Agrawal.

Prior to this startup, Bansal and Agrawal sold their first startups to Snapdeal and music-streaming app Gaana, respectively.

Anant Vidur Puri, partner, Bessemer Venture Partners, said, “We are excited to partner with Zenskar on their journey to fundamentally disrupt the quote-to-cash tooling for SaaS companies. We were impressed with their deep understanding of customer pain points, and their DNA of first principles innovation to provide a radically unique and flexible billing software.”

Zenskar plans to deploy its fund to expand the team of its engineers. However, It also eyeing to go beyond SaaS billing and bring solutions to automate accounting, facilitate payments and provide analytics to companies in sectors such as telecom, transportation, internet of things and media.


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