Today, I’m excited to announce that Vantage has raised a $21M Series A round led by Scale Venture Partners with participation by Andreessen Horowitz, Harpoon Ventures, Matthew Prince (co-founder and CEO of Cloudflare) and Glenn Solomon. Ariel Tseitlin from Scale, formerly Director of Cloud Solutions at Netflix and a former investor in CloudHealth, will be joining the company’s board of directors.
Since raising our $4M seed round roughly two years ago, Vantage has experienced rapid growth to help companies manage and optimize their cloud infrastructure spend. Here are some high-level updates:
- Vantage helps customers manage over 1B dollars in annualized cloud costs.
- Over 300 customers trust Vantage as their FinOps platform including organizations like Square, NASA, Buzzfeed, PBS, Panther Labs, Ripple, Compass, Rippling, Joybird, Starburst, PlanetScale, and Barstool Sports
- Vantage has gone from supporting only AWS to 10 natively supported providers: AWS, Azure, Google Cloud, Snowflake, Databricks, Datadog, MongoDB Atlas, New Relic, Fastly, and Kubernetes.
- There are now over 10,000 connected infrastructure accounts to Vantage across all of the providers mentioned above.
At Vantage, customers are at the heart of everything we do. The entire company works tirelessly every day to earn their trust and we strive to go above and beyond to deliver exceptional products and services, as they rely on us to achieve financial wellbeing. One question I always ask is, “If we had significantly more capital, would we change anything we’re doing?” and historically that answer has been no.
However, in the last six months, we’ve entered the “era of efficiency” where every single organization is focusing on improving the fundamentals of their business by honing in on their bottom lines. Forward-thinking organizations are actively sourcing a cloud cost solution and the responsibility they put on Vantage as their preferred vendor is growing significantly. One of our customers, Albert Strasheim, CTO of Rippling, put it perfectly in his own words here:
“Cost efficiency is always top of mind for us at Rippling. Like many other companies, we leverage a suite of different cloud infrastructure providers like AWS, Snowflake, and Datadog—each with their own bespoke, complicated pricing. After evaluating numerous other vendors in the market, we chose Vantage as our FinOps platform of choice because of the breadth of providers supported, enterprise-grade reporting & visibility features and their automated savings-as-a-service: Autopilot. More than 50 engineers on our team are now using Vantage on a regular basis to drive cost accountability throughout the organization.” said Albert Strasheim, CTO at Rippling.
Every day, we have more customers like Albert onboarding on to Vantage. While we were in a fortunate position as a company, it became clear that we should raise money in order to better support existing and future customers on a quicker timeline. With a packed roadmap of deeper integrations with more cloud providers, per-unit costs to map cloud costs to top-line business metrics, and more robust financial modeling and forecasting tools, the year ahead will be filled with significant product enhancements.
Beyond just the additional capital, we are excited to partner with some of the best people and firms in the industry to bring cloud visibility and efficiency to every tech-forward organization. Scale, and Ariel especially, will bring onboard experience working with the first generation of cloud cost providers - CloudHealth - and their reputation in scaling go-to-market teams. They are leading the round, joined by our existing investors Andreessen Horowitz, Harpoon Ventures, Matthew Prince, and Glenn Solomon.
Lastly and importantly, thank you to everyone in the community who continues to support Vantage. If you’d like to support us moving forward, here are a few helpful links:
- We’re hiring! The best way to support our customers is by hiring best-in-class people.
- Join our Slack community of nearly 1,000 cloud cost professionals.
- Support us on Twitter by following @JoinVantage and sharing our news.
- Support us on LinkedIn by following Vantage and liking our news.
