Today, $21 million in Series A financing for Vantage, a FinOps tool that aids teams in managing and optimizing their cloud expenses, was revealed. Scale Venture Partners, whose partner Ariel Tseitlin joined the board of directors, headed the round. The money will be put to use expanding the staff and advancing the product further.
Other funding partners include the co-founder and CEO of Cloudflare, Matthew Prince, as well as Harpoon Ventures, and other chosen people. Andreessen Horowitz, who headed Vantage’s $4 million seed round, is another.
Vantage is a self-serve developer tool allowing engineering teams to manage and optimize cloud costs in conjunction with finance and operations counterparts. Ten cloud infrastructure and service companies are presently supported by the company. These include: Amazon, Azure, Google Cloud, Datadog, New Relic, Snowflake, Databricks, Fastly, MongoDB Atlas, and Kubernetes.
Vantage most recently introduced Autopilot, a controlled service that reduces Amazon bills by up to 72% by automatically purchasing and selling financial obligations.
“The financial markets of yesterday urged businesses to expand at all costs. Today, effective development is everything. As a consequence, cloud expenses, which are frequently the largest expenditure, are being given new attention,” said Ariel Tseitlin, Partner at Scale Venture Partners. “The problem is that practical and understandable information isn’t always accessible. Having invested in CloudHealth, the victor in the first wave of cloud administration software, we had firsthand experience with this problem. We were so thrilled to head Vantage’s Series A because of that. Vantage offers companies a simple method to watch, categorize, and – most importantly – reduce their spending on online software. This is among the quickest and simplest methods for managing expenses for businesses of all kinds and in any sector.”
Fully Integrated FinOps Platform
Vantage offers a comprehensive tool that helps businesses at every stage of their cloud expense control path. Vantage allows enterprise-grade cost processes for the cloud, from Issues that can be delegated to engineers for cost responsibility, to Savings Planner for financial modeling, to the new per-unit costs tool that links cloud costs to users, transactions, and destinations.
More than 300 organizations in total are presently served by Vantage, including the likes of NASA, Buzzfeed, PlanetScale, Barstool Sports, PBS, Panther Laboratories, Ripple, Compass, Rippling, Joybird, Starburst, and others.
“Cost efficiency is always top of mind for us at Rippling,” said Albert Strasheim, CTO at Rippling. “Like many other companies, we leverage a suite of different cloud infrastructure providers like AWS, Snowflake and Datadog – each with their own bespoke, complicated pricing. After evaluating numerous other vendors in the market, we chose Vantage as our FinOps platform of choice because of the breadth of providers supported, enterprise-grade reporting & visibility features and its automated savings-as-a-service: Autopilot. More than 50 engineers on our team are now using Vantage on a regular basis to drive cost accountability throughout the organization.”
Vantage would assist businesses in tracking over $1 billion in yearly infrastructure costs by analyzing spending for a wide range of clients across numerous sectors and tasks. Because of this exposure, Vantage would be able to help all of its clients cut costs by implementing cost minimization lessons learned from the finest infrastructure teams in the world.
“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,” said Ben Schaechter, Co-founder and CEO of Vantage. “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.”
