PointFive Appoints Snowflake CRO Chris Degnan to Board of Directors, Driving Expansion Into PaaS FinOps
Having Scaled Snowflake's Product Revenue From $0 to Billions, Chris Degnan Joins PointFive's Board Amidst the Company's Accelerated Growth
NEW YORK CITY, NEW YORK / ACCESS Newswire / March 4, 2025 / PointFive, the leading cloud cost optimization platform, today announced the appointment of Chris Degnan, Snowflake's Chief Revenue Officer, to its Board of Directors, effective immediately. Degnan joins PointFive as the company expands its mission to tackle the growing complexities of PaaS (Platform as a Service) cost efficiency, a fast-growing area of cloud spending that is often overlooked. As the adoption of multi-cloud solutions accelerates, the complexity and cost of managing infrastructure are skyrocketing.Chris Degnan
Degnan joined Snowflake in 2013 as its 13th employee and first sales team member. He was critical in driving the company's growth and building its go-to-market strategy from the ground up. Over the years, he has led the company's revenue growth from zero to over $2 billion as of Snowflake's fiscal 2024. With previous sales leadership roles at companies like Aveska and EMC, Degnan is uniquely positioned to support PointFive as it navigates the next stage of growth.
'We are thrilled to welcome Chris Degnan aboard, with his proven track record in scaling hyper-growth cloud platforms,' said Alon Arvatz, co-founder and CEO of PointFive. 'As we take on the new technological and business challenges posed by rapid PaaS adoption, Chris' experience and strategic insights will be instrumental in guiding our mission to empower organizations to build efficiency into their product development and delivery processes.'
In less than two years since the company's inception, PointFive has already emerged as a leader in the FinOps space - with a unified platform that identifies savings opportunities of 15%-30% of enterprises' total cloud spend, enabling them to operate more efficiently across all major cloud providers. The company's solution helps enterprises uncover inefficiencies and waste, and optimize their cloud estate without compromising performance, enabling them to reduce costs and maximize operational output. PointFive has raised $36 million to date and already counts major organizations as paying customers. It is currently in the process of significantly expanding its go-to-market and sales mechanisms in the United States.
'PointFive is already redefining how enterprises approach cloud cost optimization,' said Chris Degnan. 'The opportunity to help scale PointFive's PaaS capabilities while furthering its mission of creating cost-efficient, innovative solutions is an exciting challenge - and I'm eager to take on this journey with their incredible team.'
About PointFive
PointFive specializes in cloud cost optimization and identifying cloud waste to help customers achieve greater efficiency. Utilizing its proprietary DeepWaste™ Detection Engine, built on cyber-inspired methodologies and advanced AI models, PointFive identifies cloud waste that traditional tools miss, providing actionable insights and long-term management solutions. The platform offers enterprises actionable insights and continuous management solutions, fostering collaboration between FinOps and engineering teams and driving sustainable, long-term cost efficiency.
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