Israeli FinOps startup, Finout, raised $26.3 million for their Series B funding round led by Red Dot Capital Partners, with participation from Maor Investments and existing investors Team8, Pitango, and Jibe Ventures. The startup's advanced FinOps platform is used by global giants such as Lyft, the New York Times, Choice Hotels, Wiz, Tenable, and Appsflyer to streamline and optimize their cloud spending.
Finout's platform offers visibility and management of cloud costs, addressing the growing challenge of cost allocation and optimization in the expanding cloud services market.
Highlighting the market need for cloud cost management, Gartner forecasts a 20.4% increase in global public cloud service spending, reaching $679 billion in 2024. Finout provides the necessary data layer management, seamless system integration, and supports the implementation of a FinOps culture at scale.
Finout’s comprehensive approach to FinOps enables enterprises to gain complete visibility into their cloud expenditures, allowing precise cost management and optimization.
Founded in 2021 by Roi Ravhon, Asaf Liveanu, and Yizhar Gilboa, Finout has achieved a 9-fold increase in revenue in 2023 and a 3-fold increase since early 2024. In April, Finout expanded its capabilities by acquiring Cloudthread, a pioneer in cloud cost usage optimization. Additionally, Mat Ellis, founder and former CEO of Cloudability, joined Finout’s board of directors, reinforcing the company’s strategic direction.
The startup's last round raised, Series A, totalled $14 million, led by Team8. The latest round brings their total funding to $45 million.
