Cloudability is a Portland, Oregon-based cloud cost management provider that builds tools and services to help companies manage and direct cloud spending. Its platform targets customers running on public cloud services such as Amazon Web Services and Microsoft Azure, enabling allocation of cloud spending across departments, products and infrastructure. The company is led by CEO Mat Ellis. Cloudability's solution is used by customers including General Electric, Uber and Atlassian. On June 6, 2016, it closed a $24M Series B round led by the Foundry Group Select Fund, bringing total funding to over $40M. Prior investors include Foundry Group, Techstars, 500 Startups, Trinity Ventures and First Round Capital. Cloudability helps companies get a better handle on how much they are spending across various cloud computing services. The Portland-based startup is pursuing additional capital, with SEC filings indicating a larger $12 million round. Two filings reported $750,000 and nearly $6 million raised toward that round. Prior to this raise the company had raised nearly $10 million to date, including an $8.7 million Series A in July 2012. Cloudability has been active on the acquisition front, buying three startups in the past five months, most recently RipFog. The company was contacted for comment and the article said it would be updated when Cloudability responded. Cloudability provides a cloud-cost tracking and management service that aggregates IaaS, PaaS and SaaS accounts to give finance teams visibility into spending. Its interface lets CFOs view accounts individually or combined, drill into costs by service, account or user, and receive notifications when accounts are under budget, approaching limits, or overspending. The company supports multiple providers including Amazon Web Services, MailChimp and Salesforce.com and offers free, pro and an enterprise tier—the enterprise product is the fastest-growing. Cloudability is an opt-in service; with the enterprise offering, invoices for expenses do not get paid until the user signs up for the Cloudability account. The company plans to use its new funding to hire engineering talent, expand support to more cloud service providers and build deeper analytics features. Cloudability is a graduate of the Portland Incubator Experiment (PIE), which Wieden + Kennedy helped support. Cloudability provides a single platform to analyze and monitor cloud spend across more than 80 cloud and application providers, aggregating costs into reports and a simple dashboard. The service includes daily customizable email and cloud-spend/activity notifications and makes recommendations to identify cost-savings opportunities. In private beta the company identified an average of $2,000 in efficiency gains per customer. Cloudability is tracking more than $21 million in cloud spend and reports about 1,000 businesses using the platform; early beta users include SlideShare. The startup launched in early November and plans to use the funding to expand its engineering team, accelerate product development, and add additional cloud-service integrations.

Total raised

$40M

Funding rounds

4

Latest round

Series B

Latest activity

Jun 2016