Simplifying Cloud Cost Management with Finout

Sydney Times

— 1 min read
Simplifying Cloud Cost Management with Finout

Introduction

In 2021, Roi Ravhon, Asaf Liveanu, and Yizhar Gilboa founded Finout, a toolset designed to help businesses manage and optimize their cloud costs effectively. Finout aims to address the challenges organizations face in understanding and controlling their cloud expenditures.

The Problem

  • Companies are spending large sums on cloud services during the AI boom.
  • Despite the high spending, many organizations struggle to gain insights into their cloud costs.
  • A report by Canalys indicated that a significant portion of companies cannot accurately report their cloud unit costs, with 58% deeming their costs too high.

How Finout Solves the Problem

  • Finout integrates with major cloud providers such as AWS, Google Cloud, and Microsoft Azure to provide a comprehensive view of spending.
  • The platform offers analytics dashboards and tools to reallocate and adjust cloud spend across departments, teams, and projects.
  • Features like advanced cost allocation help in precise distribution of cloud expenses, aiding in better budget management and accountability.

Key Features of Finout

  • Comprehensive visibility into cloud spending for IT leaders.
  • Identification of inefficiencies and optimization of resources.
  • Precise distribution of cloud expenses across departments.
  • Support for better budget management and accountability.

Industry Landscape

  • Major competitors in cloud spend management tools include CloudHealth, Cloudability, Vantage, Exostellar, and Ternary.
  • Despite competition, Finout has secured high-profile customers like The New York Times, Tenable, and Wiz.
  • Finout has experienced rapid growth, increasing annual recurring revenue ninefold from 2022 to 2023.

Funding and Growth

  • Recently, Finout closed a $26 million Series B round led by Red Dot Capital with participation from other investors.
  • The funding will support Finout's expansion, aiming to grow its team from 45 to 75 employees by the year-end, focusing on R&D, go-to-market, and customer success.

Conclusion

  • As organizations prioritize financial efficiency, cloud spending optimization becomes crucial.
  • Finout remains well-positioned to help companies navigate the complexities of cloud costs and drive better financial outcomes.

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