The largest corporations and MSPs in the world are among Ternary’s clientele, which has grown by more than 300% in the last year. As a multicloud spend management platform, Ternary has closed a $12 million Series A funding round to grow its FinOps-native platform, which facilitates finance, engineering, and cloud operations at scale.
Ternary is a platform certified by the FinOps Foundation. Ternary was founded in 2021 and has since expanded to hundreds of active clients, overseeing over $7 billion in cloud expenditure. The Ternary platform is offered as Ternary Self-Hosted or as a SaaS offering.
Experienced FinOps professionals and finance teams may work with engineers to create sophisticated models that direct resource allocation across products, clouds, and business units efficiently by using Ternary.
Lead investor Jump Capital led the fundraising, with ongoing assistance from Fin Capital, RiverPark Ventures, Great Oaks Venture Capital, and Gaingels. Logan Allin of Fin Capital and Saaya Nath of Jump Capital are welcomed to Ternary’s board of directors.
With the Series A funding, Ternary anticipates improving product development, seamlessly incorporating customers’ existing processes and in-house tools.
“Spending in AWS, Azure, and GCP continues to be a large and growing expense category for a majority of enterprises,” said Ternary CEO Sasha Kipervarg. “Finance, engineering, and FinOps teams operating at scale lack single-pane, multicloud instrumentation to view, attribute, budget, and understand the cost efficiency of their spend. Innovation in the FinOps space has slowed, and legacy incumbents have failed to deliver the new capabilities required by modern finance and engineering teams, leaving leaders flying blind in the cloud.”
FinOps Platform for the Enterprise Space
Ternary will also utilize the Series A financing to launch solutions faster, combining client data with the most relevant business data available, at any size and from any source. Ternary will provide two-way synchronizations with GL systems via an API-first methodology, connecting to ticketing and forecasting platforms like ServiceNow and Jira. Ternary says it will enable clients to monitor cloud expenditure optimizations all the way through to completion in this manner.
Additionally, Ternary anticipates integrating data center expenses, as well as AI expenditures and ISV costs (such as Snowflake, Datadog, and Twilio), in its comprehensive commitment modeling for its multicloud ramp plans. With sophisticated, AI-backed financial models, enterprises and MSPs would be able to completely depict the cost of cloud migrations together with the remainder of their dynamic cloud expenditure. Through the course of the cloud migration lifecycle, Ternary would help make complicated issues simpler by offering real-time modeling resources and rate optimizations, allocating workloads where they can be most effectively used, and suggesting serverless technologies and managed services from lift-and-shift migration.
“There’s no doubt that in today’s increasingly complex and accelerated digital environments, improved cloud financial intelligence is imperative,” said Saaya Nath, Partner at Jump Capital. “The needs of the market have outpaced the features legacy solutions have been able to deliver – and we believe Ternary is strongly positioned to meet this demand. Driven by a deep appreciation for their customers’ challenges and a keen eye toward innovation, the Ternary team has solved the ‘breadth vs. depth’ challenge. Ternary has built a product that elevates incredibly granular, stakeholder-specific insights on cloud financials across any number of relevant sources – effectively serving even the largest of spenders – and done so in a secure, limitlessly scalable way. We’re thrilled to partner with Ternary as they become the breakout FinOps platform for the enterprise space.”
Mr. Kipervarg added, “Enterprises and MSPs invest strategically in cloud infrastructure to make money. Ternary provides the sophisticated functionality they need to understand if that spend is efficient, using groundbreaking AI/ML features that unlock unlimited scale. We release features each week that allow finance, engineering, and FinOps teams to collaborate and make their spend as efficient as possible.”