2020 witnessed a rapid acceleration in the adoption of public cloud technologies. Many companies had to accelerate their digital transformation plans with public cloud infrastructure as their backbone. Hence, ensuring efficient and predictable cloud spend has become critical to business success. The need for a next-generation cost management product that provides highly accurate, automated resource attribution based on business context (teams, owners, applications), has deep technical support for modern architectures (Kubernetes, containers, microservices), and earns the trust of engineering teams has never been greater.
Given Yotascale’s next-generation approach to cloud cost management, 2020 has been a seminal year for us. Our revenue grew by 4X year over year and we closed a Series B funding round with a phenomenal firm, leaving us in a strong financial position entering 2021. Our teams delivered key capabilities to accelerate our multi-cloud and cloud-native (Kubernetes, containers, microservices) product strategy at an enterprise scale. We’ve also made key hires across engineering, sales, and marketing to accelerate our go-to-market strategy.
4X Year over Year Growth:
We quadrupled our revenue year over year and we are honored to call some of the world’s best companies our customers including Zoom, Hulu, DoorDash, Roblox, Klarna, Rappi, and many more. We had a near-perfect subscription renewal rate, with several customers expanding their subscriptions with us. This is a strong testament to the strength of the service we are providing to them. In many cases, during the initial purchase we either replaced an incumbent cost management product or won the deal despite the customer briefly considering a legacy cost management product.
Here is what our customers said:
As Zoom has scaled its systems exponentially in current times, Yotascale has been a trusted partner to help keep our massively increasing cloud costs in check. I have been very impressed with the huge ROI they delivered, and I am glad that we had Yotascale already in place prior to the pandemic.”
Yasin Mohammad, Engineering Manager of Cloud Operations at Zoom
Yotascale is something I wish I’d thought of. It puts cost information in the hands of our engineers so they can respond quickly to cost spikes, and gives our engineers transparency over project budgets. I don’t need to be the bottleneck for cost accountability — everyone can now find and reduce inefficiencies.”
John Gerhardt, Director of Engineering at Compass
Series B Closed:
We closed our $13M Series B financing round in June! I am excited to have Aydin Senkut, Managing Director of Felicis Ventures join our board. I couldn’t have asked for a better partner and firm at this juncture of the company. Aydin and Felicis’ focus on founder success and company building are inspirational!
We announced our financing in October and are pleased with the attention that the announcement received, with coverage from many top publications including TechCrunch, Fortune Term Sheet, Wall Street Journal Pro, and Axios. My medium blog post and official press release are available. We plan to use the capital to double down on product innovation, specifically multi-cloud/cloud-native cost management at enterprise scale, and to hire for key roles in sales, marketing, product, and engineering.
Multi-cloud, Cloud Native Acceleration at Enterprise Scale:
Our team delivered many capabilities to support cloud-native use cases (K8s, containers, microservices) at scale and we are seeing rapid cloud-native adoption across the board. Even though cloud-native architectures help with agility and flexibility, they make cloud cost management a very challenging problem.
It’s a complex ecosystem and we are extremely well-positioned to succeed based on our deep technical support of modern architectures. Our product scale is unmatched given data processing speed and product responsiveness our product delivers at the scale of Hulu, Zoom, DoorDash, and others.
Getting the right people on board is critical for startup success and I’m pleased to say that we hired great people for key positions in sales, marketing, and engineering. Among those, I am delighted to welcome Julie Herd, Senior Director of Marketing, to the Yotascale leadership team! With Julie on board, we’ll be able to expand and accelerate our market traction and product adoption.
We are continuing to hire for multiple positions across the company. Any referral is much appreciated! It’s an amazing time to join the company.
At YotaScale we are on an ambitious journey to deliver on our mission to “optimize the world’s cloud computing spend by empowering engineering teams”. It’s a bold mission and we are confident that we will succeed given our amazing team and the support of our customers, advisors, investors, and friends.
We intend to make 2021 an even better year for Yotascale! It’s time to build upon all the great work the team did in 2020. Learn more about our approach to cloud cost management here.
CEO and Co-founder