ProsperOps, an autonomous cloud cost optimisation platform, has collected $72m in a funding round led by H.I.G. Growth Partners.
This capital will allow ProsperOps to scale its platform capabilities, engineering and go-to-market teams. It will also expand from Amazon Web Services (AWS) to additional cloud providers.
ProsperOps claims to offer best-in-class return on investment on cloud spend, helping teams unlock maximum value and savings outcomes for companies building in the cloud. It claims administrators save around $800m of compute usage.
The company removes the burden on developers by autonomously managing Savings Plans and Reserved Instances across compute services, such as Amazon Elastic Compute Cloud, Fargate and Lambda.
ProsperOps CEO Chris Cochran said, “Cloud waste is rampant and holistic optimization requires an automated approach. The scale and complexity of this problem necessitate an algorithmic rather than a human solution.
“We’ve been profitably growing the business by triple digits, and the backing from our investors enables us to fully pursue the market opportunity. We look forward to expanding our customer reach and cost optimization platform so every business can prosper in the cloud.”
H.I.G. Growth managing director and co-head Ross Hiatt added, “The ongoing tailwinds driving public cloud adoption present an exciting opportunity to invest, and ProsperOps is particularly unique in its ability to help customers get the most out of public cloud at a time when every dollar counts. I’m looking forward to leveraging H.I.G.’s capabilities and relationships to further accelerate the Company’s strong momentum.”
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