Cloud Savings Leader Usage.Ai Announces $9 Million Vc Financing Round

Sep 12, 2023•over 2 years ago

Amount Raised

$9 Million

New YorkCloud InfrastructureFintechMachine LearningEnterprise SoftwareSaasArtificial IntelligenceSoftware

Investors

Backend CapitalJam FundTen VcAmity Ventures

Description

Less than 18 months from launch, Usage.AI, a leader in identifying cloud savings, has raised $9 million in a round led by Amity Ventures and existing investors TenVC, JAM Fund and Backend Capital. Usage.AI's previous round was led by prominent private investors (including Justin Mateen, who is ranked #1 on Insider's Top 100 Seed Investor List) and quickly became the world's easiest and fastest way for companies to save money on their cloud spend.

Company Information

Company

Usage.AI

Location

New York, United States

About

Usage.AI's savings platform includes multiple modules covering a customer's compute and database services, allowing organizations to consolidate their cloud savings program to a single platform that is built natively for the cloud. Usage.AI scans every layer of a customer's cloud environment to provide complete visibility, and uses its Autopilot software to immediately identify and implement the savings with zero code change, zero downtime, and zero risk. Customers can achieve savings as high as 60% in as little as 5 minutes. Customers can try Usage.AI's optimization tool with a no obligation read-only savings test, and then only pays a percentage of any realized savings.

Related People

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Funding Insights

Based on industry data

VC-backed spending patterns