Finout, a FinOps-for-enterprise company, announced a $26.3 million Series B funding round led by Red Dot Capital with the participation of Maor Investments and existing investors Team8, Pitango, and Jibe Ventures.
Finout’s FinOps platform is now used by leading global brands, such as Lyft, the New York Times, Choice Hotels, Wiz, Tenable, and Appsflyer, to optimize cloud expenditure and allocate costs across all cloud providers and services. This funding round brought the total raised by Finout to $45 million.
As cloud use expands, managing and allocating costs becomes essential but challenging, involving detailed bill analysis and complex tools that can be time-consuming. Enterprises need a unified view of their cloud spending to manage expenses efficiently. And Finout’s comprehensive FinOps platform addresses these issues by providing complete visibility and streamlining cost management and allocation, helping businesses optimize their cloud resources and enhance ROI.
Finout was launched in 2021 by Roi Ravhon, Asaf Liveanu, and Yizhar Gilboa. And the company has consistently surpassed benchmarks, growing its revenue 9-fold in 2023 and three-fold just since the beginning of 2024.
KEY QUOTES:
“Large enterprises are increasingly turning to our platform to address their FinOps challenges. Building an in-house solution isn’t practical because of the work, complexity, and dynamic nature of supporting multiple cloud environments. We see many enterprises turning to Finout to manage their data layer, allowing them to focus on their own FinOps logic, seamless integration with existing systems, and supporting the implementation of FinOps culture at scale.”
– Roi Ravhon, co-founder and CEO of Finout
“Finout’s advanced visibility capabilities go beyond basic cluster billing, allowing us to identify and address cost inefficiencies with precision and accountability. This level of detail has been instrumental in enabling our development teams to manage their cloud resource usage more efficiently. I am confident that Finout will continue to play a crucial role in our ongoing success.”
– Vijay Kurra, Senior Manager of Cloud FinOps at Tenable
“With Finops becoming fundamental to the modern enterprise, Finout is the cornerstone for cost management. Modern Enterprise requires modern solutions as cloud consumption increases both in volume and complexity. Finout has quickly become the de-facto standard for those companies.”
– Barak Salomon, Managing Partner of Red Dot Capital Partners
