Archera (formerly Reserved.ai), a Seattle, WA-based Cloud Resource Automation platform provider, raised $7m in Series A funding.
The round, which brings total funding to $10.3m, was co-led by Ridge Ventures and Amplify Partners with participation from PSL Ventures, Mark & Josh Leslie of Leslie Ventures, former Onica CEO Stephen Garden and others.
The company intends to use the funds to further develop its Cloud Resource Automation platform and boost its marketing and sales infrastructure to meet escalating demand.
Founded by veteran cloud technologists from AWS, Microsoft, and Uber and led by Aran Khanna, CEO, Archera is a Cloud Resource Automation platform that enables organizations to operate dynamically in the cloud. The platform is designed to help enterprise companies manage and de-risk an organization’s cloud resources to reduce cloud spend. The solution enables enterprises running on AWS and Microsoft Azure to build forecasts, plan and automatically execute commitment plans, monitor and protect cloud resources—via guaranteed buybacks and continuous optimization.
Already a number of high-growth and established enterprises, including Fortive, Hiya, Valtix, Guardant Health, Kumu, Zebrium and 4C Insights are using Archera to manage their cloud resources.