Loot provides a SaaS management platform that delivers granular, SKU‑level usage data to help organizations right‑size their software spend. It consolidates renewal dates, automatically scans contracts with OCR, and offers custom rules and alerts to identify overlapping functionality and shadow‑IT tools across a catalog of 6,000+ applications. Users can also generate tailored usage reports to track trends and optimize their software stack.
Funding
Funding not disclosed
Founders
Product
Problem
Organizations struggle to monitor and control spending on a growing number of SaaS applications, leading to hidden costs, overlapping tools, and unmanaged shadow IT. Manual tracking of contracts, renewals, and usage data is time‑consuming and error‑prone.
Solution
Loot offers a SaaS management platform that aggregates usage data from over 6,000 applications and presents SKU‑level consumption metrics in a unified dashboard. The system automatically extracts key terms from contracts using OCR, generates renewal summaries, and flags upcoming expirations. Customizable rules and alerts enable teams to detect overlapping functionality, non‑compliant usage, and shadow‑IT instances in real time. Users can create tailored usage reports and integrate alerts into existing workflows such as Jira or other ticketing tools, allowing precise right‑sizing of software licenses and proactive cost optimization.
Target Audience
Primary customers are IT operations, procurement, and finance teams in mid‑size to enterprise organizations that need to manage large SaaS portfolios and control software spend.
Features
- SKU‑level usage tracking across 6,000+ SaaS tools for granular right‑sizing
- OCR‑driven contract scanning that extracts renewal dates, pricing, and other variables
- Consolidated renewal summary view eliminating manual spreadsheet tracking
- Custom rule engine and alerting for overlapping functionality, high‑risk usage, and policy violations
- Shadow‑IT detection using browser and SSO data to identify unapproved tools
- Exportable, customizable usage reports covering organization‑wide trends
- Integration hooks for Jira, Zapier, and other workflow platforms