March 20, 2023

FinOps Culture

Many companies are facing intense budget scrutiny in response to investor demands to extend runway, preserve cash, and weather a possible economic winter. These companies often turn to a stronger FinOps culture, the practice of sharing and using data across teams to carefully analyze and optimize spending on cloud services. They now have access to a slew of new tools designed to improve observability into infrastructure spending, like Vantage, ProsperOps, and Cast AI. The goal is to provide finance and engineering teams with a common language to plan and optimize the cost of building, testing, and deploying their software. 

The State of FinOps survey revealed that getting engineers to act on cost optimization recommendations is the biggest challenge for almost 40% of respondents.

By providing cost-control metrics in a format that engineers prefer and use, you can spread awareness of infrastructure costs and allow them to make informed decisions about infrastructural investments.

Engineers are used to observability tools that offer real-time monitoring of the application’s performance. If you pick a solution that integrates with their existing operational tooling, adding costs into the mix is easy. This creates a common ground between technical and business teams, building a stronger FinOps culture where everyone feels responsible for managing costs.

FinOps Leaders are Becoming the Heroes in the Face of Recession, Cast AI

Funding

TeleportDAO, an interoperability protocol for building cross-chain applications, raised $2.5m in Seed funding.

Payabli, a payments API for integrating financial capabilities into SaaS products, raised $8m in funding.

Zed, developer a high-performance, multiplayer code editor, raised $10m in Series A funding.

Cast AI, a Kubernetes cost optimization and automation platform, raised $20m in Series A funding.

Seldon, a set of tools for deploying machine learning models at scale, raised $20m in Series B funding.

Apexx, an API-based payment orchestration layer, raised $25m in Series B funding.