SaaS Spending and Compliance Management Startup Raises $1.3 Million

New York-based startup Intello Inc. raised $1.3 million in a seed funding round and is launching its SaaS management service, the company announced Wednesday. The company plans to use the funding to accelerate product development and grow their New York engineering team, according to the announcement.

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Founded in 2017 by Barak Kaufman and Shlomo Dalezman, Intello (formerly known as PlatformWatch) develops a system for monitoring and managing a company’s Saas spending, usage and compliance with data collection and processing regulations such as the European Union's General Data Protection Regulation (GDPR), which will come into effect in May.

The funding round was led by Tel Aviv-based venture capital firm Emerge with participation from New York-based BoxGroup and Tectonic Capital, Sacramento-based Blacktop Capital LLC, and Tel Aviv-based Kaedan Capital, and private investors. Founded in 2015, Emerge is an early stage venture capital firm, with offices in Tel Aviv and Beijing.