Cloud management platform provider nOps Inc. today announced it has raised $30 million in new funding to accelerate development of its FinOps platform, expand integrations with Amazon Web Services Inc. and open source technologies, and improve the customer experience.

Founded in 2015, nOps provides an AWS cloud optimization platform designed to simplify and automate the tracking, allocation, and optimization of cloud resources, commitments, and costs. The platform provides insights, identifies inefficiencies, and enables resource optimization through built-in automation or point-of-click changes.

The platform aims to solve the problem identified in a Gartner report that 30% of public cloud service spending is wasted on underutilized cloud resources and 20% is used for expensive on-demand pricing. NOps argues that companies are leaving billions of dollars on the table. The company enables enterprises to optimize AWS cloud costs to better align with strategic computing needs.

nOps’ end-to-end platform differentiates itself from point solutions by providing FinOps, DevOps, engineering, and finance teams with complete visibility into their AWS costs. The platform uses artificial intelligence and machine learning to analyze compute needs and automatically optimize them for efficiency, reliability, and cost.

By informing customers of all their AWS commitments and the AWS Spot market, nOps can automatically fulfill commitments and provision additional compute requests on Spot. The platform also makes it easier to track and allocate AI workloads.

The platform offers three key solutions for AWS cloud cost management: Business Contexts provides visibility into all AWS spend and simplifies cost allocation and reporting; Compute Copilot optimizes autoscaling technologies for maximum efficiency and stability at minimal cost; and Cloud Optimization Essentials automates tasks such as resource planning, rightsizing, stopping idle instances, and optimizing Amazon Elastic Block Storage volumes.

The nOps platform integrates with and automatically optimizes Amazon Elastic Kubernetes Service, Amazon EC2 Auto Scaling Groups, Amazon Elastic Container Service, and Karpenter. The company is experiencing strong growth, helping its customers manage more than $1.5 billion in AWS cloud spend, and its customer base has grown 450% in the last 18 months.

Headlight Partners led the Series A round. “We see enterprises struggling to contain their AWS cloud spend,” said Headlight founder Jack Zollicoffer. “NOps offers a unique, more holistic approach that combines optimizing cloud costs with ensuring reliable availability of compute services. This gives its nOps customers the confidence that they will never pay more than necessary for the cloud services they need to run their business.”

JT Giri, the startup’s CEO, spoke to theCUBE, SiliconANGLE Media’s live streaming studio, in June 2023, when he talked about how nOps plans to improve AWS cost optimization:

Image: nOps