Cloud Cost Management Platform Finout Raises $18.5M
06/16/22, 11:00 AM
Money raised
$18.5 million
Finout, a cost monitoring app for cloud software and platforms, today emerged from stealth with $18.5 million — a combination of a $14 million Series A funding round led by Team8 Capital and a $4.5 million seed round led by Pitango First. Co-founder and CEO Roi Ravhon said that the capital will be put toward adding support for new cloud providers, infrastructure, and middleware and expanding Finout’s team to 40 employees by the end of the year.
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Integrating with AWS products, Kubernetes clusters, Snowflake storage, Stripe, Twilio, and more, the platform correlates and analyzes cost into business KPIs while providing recommendations and alerts.Image Credits: Finout Just knowing that [a company] spends a million dollars a month for cloud services is great, but it’s also meaningless. Ravhon claims that the platform has “hundreds” of users.“We consider both the pandemic and the tech slowdown an opportunity for Finout. Ravhon says he founded Finout to bring transparency not only cloud environment pricing, but to the cost of cloud-native software that organizations use every day. “The leadership and financial teams can use Finout to understand the profitability of any customer, feature, business unit, and service they sell. But for what it’s worth, Ravhon asserts that Finout is the only vendor that tackles the “border-based” usage problem with native support for technologies such as Kubernetes.Finout’s tens of customers include Ravhon’s and Liveanu’s former employer, Logz.io, in addition to Singular, Bigabid, and Riskified. Finout is uniquely positioned to enable cost control across cloud platforms by providing an out-of-the-box solution that empowers the modern, cloud-based enterprise to achieve its [spend] goals.”