Cloudability Closes $1.1 Million Investment Round

Advertise on CloudTweaks

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.

CloudTweaks

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

We embrace and instill thought leadership insights, relevant and timely news related stories, unbiased benchmark reporting as well as technology related infographics and comics.

CONTRIBUTORS

10 Free Security Related Tools and Resources

10 Free Security Related Tools and Resources

Free Security Tools We have a compiled a small list of interesting free security tools and resources as part of ...
The Fully Aware, Hybrid-Cloud Approach

The Fully Aware, Hybrid-Cloud Approach

Hybrid-Cloud Approach For over 20 years, organizations have been attempting to secure their networks and protect their data. However, have ...
Trading Routine: How To Track Suspicious Events In Different Locations

Trading Routine: How To Track Suspicious Events In Different Locations

Tracking Suspicious Events Financial security can be compared to a constant arms race between cyber criminals and businessmen who try to ...
Three Tips To Simplify Governance, Risk and Compliance

Three Tips To Simplify Governance, Risk and Compliance

Governance, Risk and Compliance Businesses are under pressure to deliver against a backdrop of evolving regulations and security threats. In ...
Resolving the Normalization of Deviance by Building a Culture of Communication

Resolving the Normalization of Deviance by Building a Culture of Communication

Building a Culture of Communication Real-time monitoring and corresponding alerts are critical for maintaining the performance and security of today’s ...
Making Enterprise IT Affordable for Small Businesses with the Cloud

Making Enterprise IT Affordable for Small Businesses with the Cloud

Making Enterprise IT Affordable Recent advancements in cloud technology have made enterprise IT services, like DNS management, a reality for ...
Best Practices in Disaster Recovery and Business Continuity

Best Practices in Disaster Recovery and Business Continuity

Disaster Recovery and Business Continuity Hope for the best, prepare for the worst, and expect to be surprised. While that ...
Is Your Data Safe In The Cloud?

Is Your Data Safe In The Cloud?

Cloud Data Safety This year has certainly been troublesome for businesses when it comes to data security. Numerous cyber attacks ...

NEWS

New IDC Spending Guide Forecasts Nearly $120 Billion in Worldwide Spending on Security Products and Services in 2021

New IDC Spending Guide Forecasts Nearly $120 Billion in Worldwide Spending on Security Products and Services in 2021

FRAMINGHAM, Mass., October 19, 2017 – Worldwide spending on security-related hardware, software, and services is forecast to reach $119.9 billion in ...
IBM’s cloud, cybersecurity and data analytics business rose 11 percent to $8.8 billion in the quarter

IBM’s cloud, cybersecurity and data analytics business rose 11 percent to $8.8 billion in the quarter

Big Blue back on the attack, analysts cautious (Reuters) - IBM shares surged 5 percent on Wednesday after the world’s ...
Toyota to test self-driving, talking cars by about 2020

Toyota to test self-driving, talking cars by about 2020

TOKYO (Reuters) - Toyota Motor Corp (7203.T) on Monday said it would begin testing self-driving electric cars around 2020, which ...

CloudTweaks CONTRIBUTOR PROGRAM

The CloudTweaks thought leadership profile building program is free to join but requires a commitment of atleast 3 articles over a 12-month period. Articles must be vendor-neutral in nature, related to connected cloud technologies and written by an executive level business representative to be considered.

You can also contact us to hear more about our on-demand content and lead generation programs for 2018