Newvem, a Tel Aviv, Israel-based provider of a data analytics service that helps enhance cloud usage effectiveness, has raised $4m in Series A funding.
The round was led by Greylock Partners, with participation from Index Ventures and Eric Schmidt’s Innovation Endeavors, as well as private investors including David Strohm, George Kadifa, and Maurice Werdegar.
CO-founded by Zev Laderman, CEO, and Ilan Naslavsky, CTO, Newvem provides the KnowYourCloud Analytics SaaS solution that allows DevOps, IT Managers and other cloud stakeholders to analyze, reveal and recommend insights on Amazon AWS Cloud usage.
The company intends to use the funding to expand its service to other public clouds.
In conjunction with the funding, Erez Ofer from Greylock Partners is joining Newvem’s Board of Directors.