Prismatic, an embedded integration platform, has raised $22 million in Series B funding to drive innovation and simplify integrations for B2B SaaS companies.
Prismatic has recently revealed the successful closure of a $22 million Series B funding round, representing a significant achievement in their quest to simplify integrations for B2B SaaS firms. Leading this round is Five Elms Capital, a Kansas City–based growth equity firm, marking their second investment in Prismatic in less than a year. The substantial growth experienced by this company in 2023 underscores the substantial demand for streamlined integrations in the B2B SaaS sector. This latest injection of funds is poised to drive ongoing innovation within the platform throughout 2024 and beyond. The financial support is expected to drive ongoing improvements, further enhancing the capabilities of the integration platform. With the conclusion of this funding round, Prismatic has successfully raised an impressive total capital of $34 million, positioning itself for continued growth in the B2B SaaS integration landscape.
Integration Platform as a Service (iPaaS) is a cloud-based solution that provides organizations with a streamlined way to connect and unify their various applications, processes, and data. This is achieved through a single, cohesive interface. Prismatic’s embedded iPaaS is specifically designed for the B2B Software as a Service (SaaS) sector. The primary goal is to alleviate the common challenges faced by businesses when integrating their software with that of their customers. This includes overcoming issues related to both cost and time, making the integration process more efficient and less resource-intensive.
Michael Zuercher, CEO and co-founder of Prismatic, released: “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”.
The additional funds will mainly support the growth of Prismatic’s research and development efforts, fostering innovation and improvements to their embedded iPaaS platform. In the previous year, the company empowered B2B SaaS companies to enhance the user experience through its embedded integration designer. With this new investment, upcoming updates and launches will further expand the options for SaaS teams to easily build, manage, and incorporate integrations.
“SaaS companies are spending huge amounts of time and resources on integrations…Prismatic reduces that burden by helping SaaS companies easily build integrations, deploy and manage those integrations at scale, and embed them in their solutions so their customers can self-serve.” (Michael Zuercher, CEO and co-founder of Prismatic)
“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…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.” (Austin Gideon, Principal at Five Elms Capital)
About Prismatic:
Prismatic is an integration platform designed for B2B software companies. They have worked in B2B software companies serving industries like healthcare, the public sector, agriculture, fintech, and edtech. The company offers a comprehensive embedded iPaaS solution that empowers your entire organization. This includes a user-friendly integration designer, a marketplace for embedded integrations, support for integration deployment, and a cloud infrastructure built for the purpose. Developed with a focus on what developers love, the company provides tools that seamlessly align with your software development process.
(Image Source: Prismatic website)
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