If there’s one thing that’s certain in today’s uncertainty, it’s that we’re in the midst of a massive digital transformation. As businesses grow and expand their people, processes, and technologies, public cloud is becoming the cornerstone of any viable digital strategy–and businesses are spending significant amounts of money and resources to adopt it. But with all the advantages of public cloud comes a plethora of challenges–most importantly–unexpected costs that frustrate finance and engineering teams, stifle optimization, and create huge amounts of resource waste. Effectively understanding and managing cloud costs can mean the difference between a business thriving–or barely surviving.
At Yotascale, our mission is to optimize the world’s cloud computing spend. We aim to fulfill the promise of cloud computing by making cloud cost visibility and optimization as transparent and seamless as possible by empowering engineering teams.
To support this mission, we’re excited to announce our Series B funding. Led by Felicis Ventures’ Aydin Senkut, alongside existing investors, Crosslink Capital, Pelion Ventures, and Engineering Capital, we raised $13M, bringing our total amount raised to $25M.
As a former head of infrastructure and engineering, I have seen my fair share of companies struggling to make public cloud work for them. I saw companies spending 60% of their entire IT budget on public cloud. We knew there was a lot of waste, but couldn’t seem to pinpoint exactly where the waste was. The engineering teams were jaded–they were frustrated by having no visibility, beaten down by first-generation cost management products making unuseable recommendations, and felt disempowered to create change. Modern architectures like microservices, containers, and Kubernetes made the problem worse. There was a desperate need for a solution that didn’t involve mind-numbing tagging of millions of changing resources, or recommendations that insulted the intelligence of application and engineering teams with a naive view of complex systems. Engineering teams needed to be empowered to own the problem, while effectively collaborating with business teams.
With that insight in mind, Yotascale was born in 2015. Yotascale bridges the gap between CloudOps, engineering, and finance teams to take full advantage of the agility of the cloud without compromising fiscal responsibility. We provide automated cost attribution based on enterprise context (teams, owners, and business units), while maintaining 96% accuracy of cloud resource allocation. All of this enables us to deliver highly actionable recommendations that are trusted by engineering teams. We have deep technical support for modern architectures (K8s, containers, micro-services) and complex systems. At companies like Hulu, Zoom, and DoorDash, we’ve made cloud cost management practical and exciting with the sophistication and effectiveness of our approach.
We built Yotascale with engineering teams in mind, because we’re engineers. We wanted a product they would love, because modifying cloud infrastructure needs to be validated by the people who know it best: the engineers. That’s why Yotascale distributes personalized recommendations directly to engineering teams–no reports need to be exported, or sliced and diced. We deliver actionable recommendations to the teams most qualified to take action, and our ML-based engines learn quickly from their feedback.
We’re fortunate to have investors who understand our mission and have partnered with us to help drive our 4x year-over-year revenue growth, even now in the midst of a global pandemic when many could have foregone the risk. That’s a true testament to the work we’re doing at Yotascale, the vision we are bringing to fruition, and the relationship we are fostering with our customers.
At the end of the day, everything we do at Yotascale is driven by the customer experience. We’re connecting the dots for organizations by empowering them with the right information and visibility, so they can think more strategically, optimize where possible, and continue to improve their businesses overall–which is something we all can benefit from.
“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, Compass
We’ve still got a lot of work to do, and we’re excited to roll up our sleeves. Stay tuned, partner with us on this journey, and look for big things on the horizon.