Cloud Computing Company Cloudability Raises $24 Million

June 7, 2016
Cloud Computing Company Cloudability Raises $24 Million
Cloud computing company Cloudability has raised $24 million in investment. Cloudability, which has headquarters in Portland, Oregan, United States, was established in 2011. The company specializes in services that manage a company’s cloud bills and monitor its Amazon Web Services (AWS) usage data. This data is organized into “simple, customizable reports” that companies can use to base IT, financial and other business decisions on. This latest round of investment brings the company’s total investment to date to around $40 million.

The investment was led by the Boulder, Colorado-based Foundry Group and Cloudability intends to upgrade its products with the cash injection it has received. The news comes on the heels of a $6 million investment received last year. Cloudability has 55 employees in Portland with a total of 70 staff across the United States.

“As enterprise companies move more of their IT spending to public clouds they need new tools to manage and optimize their spending and to make sense of the mountain of billing and usage data that big clouds generate every day,” explained Cloudability’s CEO Mat Ellis in a press release. “For five years, Cloudability has been helping companies like GE, Uber and Atlassian to rapidly build bigger and more complex clouds with confidence and control.”

Do you know of any other companies that have received new investment? Let us know the details. Add your comments below.

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