by Angela Guess
Alex Williams of TechCrunch reports, “Portland-based Cloudability has raised $8.7 million from the Foundry Group in a Series A round for its service that tracks cloud costs and gives better visibility into spending for online services that often go unmonitored. Other participants in the round include 500 Startups,Trinity Ventures and Wieden + Kennedy, one of the world’s leading independent advertising agencies.”
Williams continues, “Cloudability offers a free service, pro accounts and an enterprise level program for managing multiple cloud accounts. It’s the enterprise grade service that is growing fastest. Cloud spending has spread across the business landscape. As it has spread, so too has it left corporate finance with little ability to monitor spending of the services. The lack of visibility comes as lines of business use their own budgets to expense services. They don’t have to wait for IT to give them permission. They just open an account and start charging away.”
photo credit: Cloudability
