Cloudability, a platform to manage and monitor all of your cloud costs in one place, has raised $1.1 million in seed funding, led by Trinity Ventures and Walden Venture Capital.
Cloudability, which launched in early November, helps businesses be more efficient on the cloud by analyzing a company’s entire cloud spend for cost savings opportunities and make recommendations. Cloudability supports more than 80 cloud and application providers, including AWS, Rackspace, Heroku, Airbrake and Google Apps, to give companies the ability to monitor and analyze complete cloud spend across multiple vendors.
The startup aggregates cloud costs into comprehensive reports and a simple dashboard to help companies understand and manage their cloud service spending, increase efficiency, reduce waste, and identify opportunities for coud cost savings. The service also includes daily customizable email and cloud spend/ activity notifications.
Cloudability is now tracking more than $21 million in cloud spend, and in its private beta identified an average of $2000 in efficiency gains per customer. Early beta users include SlideShare and others, and currently 1,000 businesses are using the platform to track spending.
The startup plans to use the funding to expand its engineering team, and accelerate product development and additional cloud-service integrations.
Cloudability is the first and only financial management tool for monitoring and analyzing every cloud expense across any organization. It brings transparency to how and where organizations spend money on cloud resources, giving them the power to reap the most value from cloud usage possible. It aggregates expenditures into accessible and comprehensive reports, helps identify new opportunities for reducing spend and increasing cloud efficiency, offers budget alerts and recommendations via SMS and email, provides APIs for connecting cloud billing and usage data to any...