Israeli firm Cloudyn, a leading solution for cloud monitoring and optimization, announced that it has secured its first institutional round of financing in the amount of $4 million dollars.
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As businesses rely more on cloud computing instead of in-house servers, the market for businesses that assist firms to maximize their cloud use and minimize their costs has grown considerably. Cloudyn is one such firm.
The company declares that it makes it easy to understand, control and optimize cloud consumption (AWS and/or GCE). With intelligent analysis, customized alerts, and actionable recommendations, people can identify underutilized and unused resources, avoid unanticipated spending, and select the best pricing plans for unique business and IT requirements.
Cloudyn’s non-intrusive SaaS-based solution can be activated and running in minutes. Within 10 days, IT managers and CIOs receive a thorough analysis of their cloud environment, along with actionable recommendations on how to optimize pricing plans and operational efficiency.
With over 1 million instances monitored, Cloudyn delivers an average of 40% cloud-related cost reductions to organizations with significant cloud investments in various industries worldwide.
This investment brings its total funding to $5.5 million to date. The funding round was led by Titanium Investments, with existing investors RDSeed also participating. Cloudyn will channel its new funding to support more cloud computing infrastructure platforms and enhance its flagship offering for the myriad of companies taking advantage of hybrid and multi-clouds.
In addition to its new funding, Cloudyn announced that Alexander Aivazov, Managing Partner of Titanium Investments, joined the company’s board of directors, bringing the board to 4 members.
“Our investment underscores Cloudyn’s platform that has seen strong growth. The company is experiencing tremendous market momentum, and its rapid adoption by many world-class, industry-leading companies validates the value it is delivering to customers, ” said Alexander Aivazov of Titanium Investments. “I look forward to joining the board and working with Sharon and the executive team.”
Over the past year, Cloudyn asserts that it has led the market, expanding its ability to support a growing number of cloud computing platforms, including Amazon AWS, Google GCE and OpenStack.
Cloudyn was founded in 2011 by Sharon Wagner, Dr. Boris Goldberg and Vittaly Tavor.