Cloud optimization automation provider Vega Cloud has completed a $9 million equity and debt funding round, respectively led by Album VC and Sun Mountain Capital. The funding would allow Vega to speed up product development in order to keep up with the fast-rising FinOps industry demand and support the company’s rapid expansion.
Kick-Start, Incisive Ventures, Rudeen & Company, the Cowles Company, Tacoma Ventures, Tapas Capital, the Seattle Alliance of Angels, and other new and existing Vega investors also participated.
With the financing, Vega Cloud is able to give its customers access to almost real-time data, which they can use to guide their spending and decide how best to balance cost, quality, and speed. Additionally, Vega will expand interoperability and cloud optimization technologies, enabling customers to get the most out of their investments in public cloud infrastructure and devote more of their time to developing their own goods and services.
“Despite many great efforts, cloud waste continues to grow and impact the bottom line of companies regardless of their size. It is time for a different approach to cloud optimization,” said Kris Bliesner, co-founder and Chief Executive Officer of Vega Cloud. “With the support of highly motivated, successful investors who see the disruptive potential of Vega in the multi-cloud FinOps space, Vega can continue to help more companies to optimize their cloud usage and minimize their cloud spend. Our vision is to continue to help clients better understand cloud spend and surface areas to optimize and/or invest in to achieve their business outcomes while reducing costs.”
Optimization in Complex Cloud Environments
The Vega Platform would offer its users a unified view across key providers, simplifying fundamental optimization processes and focusing on what matters most: decreasing the cost of cloud consumption. This would result in greater visibility and organization of clients’ cloud infrastructure.
“Enterprise organizations are primed to benefit from Vega Cloud’s proprietary unit economics and value-based automation approach to cloud optimization. Today’s organizations demand cloud spend to be tied to business value and are looking for meaningful ways to accomplish that,” said John Mayfield, Partner, Album VC. “The collaborative working relationships between client teams and their ability to use data-driven insights to make iterative improvements to unit economics speaks to the effectiveness of this platform.”
“Vega helps customers better consume public cloud by eradicating waste and simplifying optimization in highly complex cloud environments,” said Kevin Barber, Managing Director, Sun Mountain Private Credit. “Our firsthand experience with Vega and their multi-disciplinary team’s dedication to building efficiency and innovation around FinOps drove our decision to invest.”