Cloud-based services may be a darn sight cheaper than on-premise alternatives, but over time, costs can escalate.
Cloudability, the startup with a service to monitor the costs of your company’s cloud-based infrastructure, has launched its analytics tool. This enables anyone within the organization to continuously improve the way they are using cloud tools, and ensure that spending for these services does not go unmonitored.
Startups with lean budgets can sign up for free and Cloudability will pull up invoice and billing data (not estimated data, as is the industry norm) from cloud vendors like Amazon Web Services and Rackspace.
The product has been in beta for over a year and is used by 4,000 customers, ranging from tiny startups to larger businesses. Cloudability offers a free service, but enterprises will need to fork over in excess of $50 per month to manage multiple cloud accounts. It has come as a surprise to the founders that the enterprise service is growing fastest; corporate finances desperately need to be kept in check.
The Portland-based startup was founded by Mat Ellis, a British entrepreneur. He said he formed the idea for the company when working as an IT consultant to pay the bills. “Everybody asked the same question: what am I spending?”
On a phone call with VentureBeat, he said he didn’t initially think of Cloudability as a business; it was initially conceived of as a “favor to clients.” After graduating from TechStars, the mentorship-driven accelerator, Ellis focused on building out the product.
With greater access to the data, companies can track costs and foster a culture of continuous IT improvement. The analytics piece lets customers drill down into the metrics and visualize the data to present to their managers. As a team, they can review cost, network usage, and CPU utilization to find out which specific instances are ringing up the most charges.
The company recently raised its $8.7 million Series A from Foundry Group, 500 Startups and Data Collective, among others.