January 9, 2023

Augmented FinOps

Small computations, when scaled across gigabytes or terabytes of data, can quickly become expensive line items for engineering teams. Importantly, improvements to those data workloads scale, too. Poorly optimized queries drive up costs, but efficient queries can be a significant source of financial savings.

Considering the current economic environment, the need for companies to cut their data costs is critically important. McKinsey recently reported that organizations have the potential to save 15-35% in their data spend by optimizing data sourcing, infrastructure, governance and consumption. Another survey conducted by Gartner reveals that one of the biggest complaints of cloud data management solutions buyers is the lack of predictable costs and absence of pricing transparency.

To address this issue, Gartner recommends that companies introduce more efficient Augmented FinOps (financial operations) measures that would enable full visibility to data management supported with efficient optimization methods.

Chaos Genius Raises $3.3M Seed Round to Help Companies Cut Data Costs up to 30%, Chaos Genius

Funding

SurrealDB, a NewSQL database for serverless applications, raised $6m in Seed funding. 

ChaosGenius, a workload optimization and query improvement platform for Snowflake, raised $3.3m in Seed funding.