DEVOPSdigest

Prismatic announced $22 million in Series B funding to drive platform innovation.

Five Elms Capital led this funding round, which is the growth equity firm's second investment in Prismatic in less than a year.

"Modern B2B SaaS teams juggle a growing expectation to integrate with the other software their customers use. Fulfilling these requirements is costly, time-consuming and frustrating, but Prismatic's embedded integration platform (embedded iPaaS) provides a seamless, scalable experience that enables teams to focus on innovation," said Michael Zuercher, CEO and co-founder of Prismatic. "Amid SaaS industry challenges, Prismatic's consistent, strong quarterly growth demonstrates the pivotal role integrations play in the future of SaaS."

The $22 million in funding will primarily fuel the expansion of Prismatic's research and development, fostering innovation and enhancements to the embedded iPaaS platform. Last year, Prismatic empowered B2B SaaS companies to provide the ultimate user experience for user-built integrations via its embedded integration designer. Future updates and launches enabled by this investment will drive even more versatility in the ways SaaS teams can build, manage, and embed integrations.

"Prismatic's stellar growth since its Series A, achieved in less than a year, has solidified the indispensable role of embedded iPaaS in B2B SaaS companies," said Austin Gideon, Principal at Five Elms Capital. "We are seeing intense demand across our portfolio of B2B software companies for a platform to help augment integration capabilities. Scaling software companies are able to realize strong returns on investment by utilizing Prismatic's platform, allowing teams to remain focused on delivering new products to customers. Partnering with this team again for the Series B gives us the opportunity to make meaningful advancements and improvements in the future of SaaS."