Vantage, a FinOps platform that helps teams manage and optimise their cloud costs, has scored $21m in a Series A funding round.
The round was led by Scale Venture Partners, with partner Ariel Tseitlin joining the board of directors.
Other participants in the round included Andreessen Horowitz, Harpoon Ventures, Matthew Prince and other select individuals.
Vantage is a self-serve developer tool that allows engineering teams to manage and optimize cloud costs in conjunction with finance and operations counterparts.
Most recently, Vantage launched Autopilot: A managed service that optimizes AWS bills by automatic buying and selling of financial commitments to yield up to 72% in savings.
Vantage provides an all-in-one platform that supports organizations through every step of their cloud cost management journey. From Issues that can be assigned to engineers for cost accountability, to Savings Planner for financial modelling, to the new per-unit costs feature which maps cloud costs to customers, transactions and endpoints, Vantage enables enterprise-grade cost workflows for the cloud.
Vantage is helping organisations track over $1bn in annualized infrastructure costs, evaluating spend for a large variety of customers in different industries and with different workloads. This exposure means Vantage can apply cost optimization learnings from the best infrastructure teams in the world to help all of its customers save money.
The company said that the funds will be used for team growth and continued product advancements.
Vantage CEO and co-founder Ben Schaechter said, “For the last decade, businesses have been enjoying a bull market entirely focused on leaning heavily into top-line growth. Times have changed and we’ve now entered into the ‘era of efficiency’ where fundamentals are more in focus and bottom-line costs are being audited by every organization.
“Infrastructure costs represent an outsized contributor to most organizations’ COGS and an area where optimization is possible. Now organizations can simply connect their various infrastructure accounts to Vantage, invite their teammates and begin saving money for each of the infrastructure providers they use.”
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