Cloudability Closes $1.1 Million Investment Round

Cloudability Closes $1.1 Million Investment Round

Led by Trinity Ventures and Walden VC, Seed Financing Will Enable Cloudability to Meet a Growing Demand for the Management of Cloud Costs and Services

PORTLAND, OR – December 22, 2011Cloudability, the easy way to manage and monitor all of your cloud costs in one place, today announced that it has closed a Seed investment round of $1.1 million, led by Trinity Ventures and Walden VC. The round also includes $255K in funding from a local consortium of Portland –based angel investors, or over half of the angel money in the round. Cloudability will use the Seed round to expand its engineering team, accelerate platform development and additional cloud-service integrations, and strengthen its position as the leading choice for businesses to manage their cloud costs and services.

Cloudability addresses the growing need to increase efficiency of cloud-use and provide cloud users with a simple way to monitor cloud costs, helping them avoid unnecessary overages and unused instances. Part of the Amazon Web Service (AWS) Solution Provider program, Cloudability offers access to cloud billing and usage data from over 80 providers like AWS, Rackspace and Heroku via an API, and connect that to any business, financial system or web app they choose.

Cloud usage continues to grow rapidly across industries – few companies are left that haven’t adopted cloud services in some form by now,” said Mat Ellis, CEO and co-founder of Cloudability. “We give our customers peace of mind that they’re protected from overages. We’re thrilled that our investors see the value in our services and the opportunity for tremendous growth in our business over the coming year.”

Cloud computing continues to see massive adoption as the trend democratizes IT across all verticals and market segments,” said Karan Mehandru at Trinity Ventures. “While cloud services are meant to make business operations easier, flexible and more affordable, they often end up doing just the opposite. Cloudability makes it possible for any company to run cloud services, and makes managing and monitoring those services easier than ever before.

Since its beta launch Cloudability has signed up over 1,000 active companies to the platform, and is currently managing over $21 million in cloud spend. To learn more about Cloudability and begin maximizing the efficiency of cloud services today, visit cloudability.com.

About Cloudability

Cloudability is the easy way to manage and monitor all of your cloud costs in one place. Cloudability aggregates cloud expenditures into accessible and comprehensive reports to understand and manage costs, reduce waste, and identify opportunities for cost savings with alerts and efficiency recommendations. As a member of the Amazon Web Services Solution Provider program, Cloudability supports over 80 Cloud service providers, and offers JSON and XML APIs for connecting cloud billing and usage data to any business or financial system. Cloudability is based in Portland, Oregon, and was founded in 2011 by Mat Ellis, J.R. Storment and Jon Frisby. The company is backed by Trinity Ventures, Walden VC, and a local consortium of Portland-based angel investors. For more for information, visit www.cloudability.com.

About CloudTweaks

Established in 2009, CloudTweaks is recognized as one of the leading authorities in connected technology information and services.

We embrace and instill thought leadership insights, relevant and timely news related stories, unbiased benchmark reporting as well as offer green/cleantech learning and consultive services around the world.

Our vision is to create awareness and to help find innovative ways to connect our planet in a positive eco-friendly manner.

In the meantime, you may connect with CloudTweaks by following and sharing our resources.

View All Articles

Sorry, comments are closed for this post.

Cloud Computing – A Requirement For Greater Innovation

Cloud Computing – A Requirement For Greater Innovation

Cloud Computing Innovation Sao Paulo, Brazil has had trouble with both energy and water supplies as of late. Despite it is the rainy period. Unfortunately Sao Paulo is very dependent on its rain as a majority of its power is generated from large dams. No water, no energy. Difficult situation for a city of some…

Simple And Recommended SaaS Security Tips

Simple And Recommended SaaS Security Tips

SaaS Security Tips Most people and companies are now using a significant amount of SaaS solutions. Companies are running sales support software, they are file sharing, collaborating and using e-mail programs and a lot more in the cloud. However, that usage also leads to concerns about the security of those solutions. How safe are they? What…

World Backup Day: Understand The Data You Are Protecting

World Backup Day: Understand The Data You Are Protecting

World Backup Day: Understand The Data You Are Protecting Did you know that 113 phones are lost or stolen every minute? What about the fact that 1 in 10 computers are infected with a virus every month? Thanks to World Backup Day, an independent initiative that was started in 2011, awareness is being raised about…

Digital Transformation: Miracle and Wonder

Digital Transformation: Miracle and Wonder

Digital Transformation These are the days of miracle and wonder. I’ve been leading a small, global research team at the Tau Institute for the past few years to examine the dynamics of IT adoption in more than 100 countries throughout the world. We’ve developed several indices that show how well these nations are doing on a relative basis. We ranked the nations…

7 Common Cloud Security Missteps

7 Common Cloud Security Missteps

Cloud Security Missteps Cloud computing remains shrouded in mystery for the average American. The most common sentiment is, “It’s not secure.” Few realize how many cloud applications they access every day: Facebook, Gmail, Uber, Evernote, Venmo, and the list goes on and on… People flock to cloud services for convenient solutions to everyday tasks. They…

How Successful Businesses Ensure Quality Team Communication

How Successful Businesses Ensure Quality Team Communication

Quality Team Communication  (Sponsored post courtesy of Hubgets) Successful team communication and collaboration are as vital to project and overall business success as the quality of products and services an organization develops. We rely on a host of business tools to ensure appropriate customer interactions, sound product manufacturing, and smooth back-end operations. However, the interpersonal relationships…

Featured Sponsored Articles
How To Develop A Business Continuity Plan Using Internet Performance Management

How To Develop A Business Continuity Plan Using Internet Performance Management

Internet Performance Management Planning CDN Performance Series Provided By Dyn In our previous post, we laid out the problems of business continuity and Internet Performance Management in today’s online environment.  In this article, we will take a look at some of the ways you can use traffic steering capabilities to execute business continuity planning and…

Featured Sponsored Articles
Optimizing Digital Marketing Through Accessibility & Aesthetics

Optimizing Digital Marketing Through Accessibility & Aesthetics

Optimizing Digital Marketing In The Cloud Marketers are constantly looking for better ways to tantalize and engage customers, and there’s no space more competitive than the digital universe. Deliberating over pleasing layouts, effective calls to action, site responsiveness, and much more, digital marketers have more than enough to keep themselves busy without understanding the intricacies…

Featured Sponsored Articles

CloudTweaks is recognized as one of the leading influencers in cloud computing, infosec, big data and the internet of things (IoT) information. Our goal is to continue to build our growing information portal by providing the best in-depth articles, interviews, event listings, whitepapers, infographics and much more.

Sponsor