CloudZero, a Boston, MA-based cloud cost intelligence company, raises $32M in Series B funding.
The round was led by Innovius Capital and Threshold Ventures with participation from existing investors Matrix Partners, Underscore VC, and G20 Ventures. As part of the financing, CloudZero added Justin Moore from Innovius Capital to its board of directors and Arpit Mittal from Threshold Ventures as a board observer.
The company intends to use the funds to expand platform features, advance its enterprise functionality, and scale headcount.
Led by Phil Pergola, CEO, CloudZero provides an intelligence platform that automates the collection, allocation, and analysis of cloud cost data to uncover savings opportunities and improve unit economics for organizations. It provides granular insights for any cloud provider and empowers software teams to collaboratively manage cloud spend down to how a specific product feature or customer impacts margin. This means engineering teams can see real-time, hourly data showing the consequences of software development decisions and can proactively optimize costs before waste occurs.
The solution is used by companies such as Demandbase, New Relic, Nubank, Rapid7, and Skyscanner.
FinSMEs
12/06/2023