Software Firm nOps Raises $30M Series A to Help Customers Drive Down AWS Cloud Costs
Cloud management software provider nOps has closed a $30 million Series A funding round to further develop its tools that help customers optimize their AWS cloud spending and drive down costs.
Founded by CEO JT Giri in 2017 as a spin-off from consulting firm nClouds, nOps offers a cloud optimization platform that provides visibility into an organization’s entire AWS bill. Using machine learning and automation, the platform analyzes resource usage and identifies opportunities to cut waste and unnecessary spend. This could involve stopping unused instances, rightsizing resources to better match needs, or adjusting storage volumes.
With insights from managing over $1.5 billion in AWS budgets, nOps estimates that 30% of cloud costs are wasted due to factors like overprovisioning or deploying resources on more expensive purchasing options. The company’s software aims to eliminate this excess spending automatically through continuously monitoring customer accounts and making minor configuration changes with minimal input required from users.
Impressively, nOps has experienced strong growth of late, with its customer base expanding by 450% in the past year and a half alone. This rapid adoption is likely driven by the inflation in cloud costs that many firms are facing as well as a need for improved optimization of cloud dollars.
The new funding round was led by investment firm Headlight Partners and brings nOps’ total funding to $40.5 million. Commenting on the investment, CEO Giri noted that with companies tightening budgets ahead of fiscal year 2025, a solution that provides comprehensive visibility and automation around cloud costs has become increasingly critical.
Moving forward, nOps intends to use the funds to grow its team from 60 to 80 employees by year’s end. The company also aims to build new integrations with additional AWS services and open source tools. Ultimately, nOps’ goal is to empower more organizations to reduce their monthly cloud bills through insights and automated optimization of AWS spending.
