Latest news with #PhilPergola
Yahoo
4 days ago
- Business
- Yahoo
CloudZero raises $56m to enhance cloud cost efficiency solutions
CloudZero, a provider of cloud cost efficiency solutions, has raised $56m in a Series C funding round after achieving triple-digit growth for another year. The round was led by BlueCrest Capital Management and Innovius Capital, with participation from Matrix Partners, Threshold Ventures, Underscore VC, G20 Ventures, and a strategic investment from MongoDB. The company plans to leverage the capital to support its efforts to advance AI-driven research and development (R&D), expand its go-to-market strategy, and strengthen its partner ecosystem. BlueCrest Capital Management founder and CEO Michael Platt said: 'Organisations that optimise their cloud costs gain a competitive advantage, while those that neglect cost management risk limiting their growth and innovation.' The company's cloud cost optimisation platform connects engineering decisions to business outcomes, helping teams manage and optimise cloud and AI infrastructure costs. Trusted by organisations such as Coinbase, DraftKings, Expedia, Moody's, and Nubank, CloudZero plans to use the funding to enhance AI-driven cost analytics and forecasting, deepen integrations across developer and finance workflows. Furthermore, the funding will be used by the company to expand its network of strategic partners and cloud alliances. CloudZero CEO Phil Pergola said: 'AI is redefining what's possible — but without a deep understanding of cloud unit economics, innovation becomes unsustainable. 'CloudZero is pioneering a new standard for cloud cost optimisation, giving companies the precision they need to scale cloud and AI responsibly.' CloudZero's platform automates the collection, allocation, and analysis of cloud costs, providing full visibility into operational cloud spend and identifying savings opportunities for engineering teams. In November 2024, CloudZero was recognised as a validated MongoDB technology partner, becoming the first cloud cost management platform in the MongoDB Partner Ecosystem. This partnership includes a new integration with MongoDB Atlas, designed to help customers better visualise and understand their MongoDB expenses. MongoDB Atlas is a multi-cloud developer data platform, which is used by millions of developers and over 50,000 customers. "CloudZero raises $56m to enhance cloud cost efficiency solutions" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Axios
29-05-2025
- Business
- Axios
Exclusive: CloudZero raises $56M to tame cloud costs
CloudZero raised $56 million to help companies rein in soaring AI-driven cloud costs, CEO Phil Pergola tells Axios Pro. Why it matters: Enterprises are struggling with exploding multicloud costs, especially as AI initiatives rapidly increase cloud usage. Cloud infrastructure spending is expected to reach $2 trillion by 2030, driven by AI's rollout, according to Goldman Sachs Research. How it works: CloudZero's platform helps engineering teams optimize their cloud and AI infrastructure costs, directly correlating cloud decisions to the business. State of play: Strategics and investors alike are seeing the demand for products that may help contain their cloud costs. In January, Flexera acquired NetApp's Spot financial operations product, to help customers "seeking to manage growing multi-cloud costs." Last month, Cast AI Group, another finops startup that specializes in optimizing the efficiency of cloud-native environments, raised a $108 million Series C. What they're saying:"Cloud spend is growing, that trend is not slowing down," Pergola says. "But companies are also very fixed on unit economics and making their business healthy." Zoom in: The Series C round was led by BlueCrest Capital Management and Innovius Capital. Other venture firms participating in the round included Matrix Partners, Threshold Ventures, Underscore VC and G20 Ventures. MongoDB also made a strategic investment in the round. CloudZero closed at $32 million Series B fundraising round led by Innovius Capital and Threshold Ventures in June 2023. What's next: Pergola says the company has enough cash after the new round to take it to profitability, but will not rule out a Series D down the line if the company wanted to "double down." Bottom line: Expect more SaaS vendors to start buying — or developing — products they can put into their platform that offer cost visibility and optimization.
