Israeli startup Finout has raised $14m in an A round, with total funding of $18.5m after a seed round last year. Finout provides a software-as-a-service tool that helps clients keep track of their cloud spending. The SaaS firm takes information from clients’ public cloud and software-as-a-service providers, analyses it on a customizable dashboard, and delivers a single bill for all the services used.
The platform is currently compatible with Amazon Web Services, Kubernetes and Datadog, and will soon support Google Cloud Platform, Azure and Snowflake. Finout also includes supplier pricing and charging policies in its analysis, and it can identify unused cloud resources and provide recommendations to improve cost efficiency.
The startup’s software also monitors cloud service usage to detect anomalies in cost increases. Roi Ravhon, the CEO and co-founder of Finout, said “the company has dozens of paying clients”.
Ravhon created Finout after experiencing difficulties with cloud service Opex supply cost calculations in a previous company. The tool allows customers to add major vendors to their billing system and manage their cloud service spending more effectively.
While Finout does not currently support individual SaaS suppliers, organizations can still add them to their billing system if needed. Additionally, SaaS suppliers can contact Finout directly to be included. Finout’s aim is to provide an equivalent service to Amex Travel Services in the cloud services spending world, offering organizations greater control over their cloud service spend and reducing the risk of overspending.
By launching Finout, Ravhon hopes to help organizations better manage their cloud service costs and avoid potential financial difficulties. With the rise of cloud services usage, Finout’s launch may provide organizations with a solution to a common problem that has arisen due to cloud service spending.