CloudZero, a cloud cost intelligence firm headquartered in Boston, Massachusetts, has successfully raised $32 million in its Series B funding round. Leading the investment were Innovius Capital and Threshold Ventures, joined by existing investors Matrix Partners, Underscore VC, and G20 Ventures. Notably, the funding round also saw the addition of Justin Moore from Innovius Capital as a new member on CloudZero’s board of directors, along with Arpit Mittal from Threshold Ventures serving as a board observer.
The freshly acquired capital will enable CloudZero to bolster its platform capabilities, advance its enterprise functionality, and expand its workforce. Under the leadership of CEO Phil Pergola, CloudZero has developed an intelligence platform that automates the collection, allocation, and analysis of cloud cost data, ultimately uncovering potential savings opportunities and optimizing unit economics for organizations. With the ability to provide detailed insights across various cloud providers, CloudZero empowers software teams to collaboratively manage and control cloud expenditure, down to the impact of specific product features or customers on profit margins. This real-time, granular data empowers engineering teams to make informed decisions and proactively optimize costs before wasteful spending occurs.