Usage.AI, a company specializing in identifying cloud savings, has raised $9 million in a funding round led by Amity Ventures, with participation from existing investors TenVC, JAM Fund, and Backend Capital. The company, which launched less than 18 months ago, provides a platform that helps businesses save money on their cloud spending.
Usage.AI’s platform has quickly gained popularity, with over 300 global enterprises, including Deel, Zumba, EVGo, FabFitFun, Secureframe, and Motive, using it to optimize their cloud costs. The company plans to use the funds to continue developing its platform and add features based on customer feedback.
The platform uses AI-driven insights to help companies identify areas where they can reduce cloud spending, allowing engineering teams to focus on more customer-centric tasks. With the growing reliance on cloud services in today’s business landscape, optimizing cloud spending has become crucial for companies of all sizes.
Patrick Yang, Co-Founder and General Partner at Amity Ventures, praised Usage.AI’s product and rapid growth, noting that the company’s goal is to become a compound startup, helping companies manage and optimize their entire infrastructure stack. The funding will support this vision.
Usage.AI’s success highlights the increasing demand for tools and platforms that enable businesses to efficiently manage their cloud spending, ultimately improving their operational efficiency and competitiveness in the market.
