Ternary, a San Francisco, CA-based provider of a multicloud spend management platform, raised $12M in Series A funding.
The round was led by Jump Capital, with participation from existing investors Fin Capital, RiverPark Ventures, Great Oaks Venture Capital, and Gaingels. In conjunction with the funding, Jump Capital’s Saaya Nath and Fin Capital’s Logan Allin joined Ternary’s board of directors.
Led by CEO Sasha Kipervarg, Ternary provides enterprises and managed service providers (MSPs) with a multicloud spend management platform to optimize their costs. Using Ternary, finance teams collaborate with engineering and FinOps teams to align spending with business objectives and continuously improve cost efficiencies. Its platform is available as a SaaS product or as Ternary Self-Hosted.
The company intends to use the funds to enhance product development, incorporating customers’ existing processes and in-house tools, and accelerate delivery of features that enrich customer data with the most relevant business data, from any source, at infinite scale. Using an API-first approach, Ternary will add two-way synchronizations with GL systems, linking to forecasting and ticketing systems such as ServiceNow and Jira. In this way, Ternary will empower customers to track cloud spending optimizations to completion. The company will also deepen the commitment modeling for its multicloud ramp plans to include data-center spend, as well as AI spend and ISV costs (e.g., Snowflake, Datadog, and Twilio). Enterprises and MSPs will be able to fully represent the cost of migrations to the cloud alongside the rest of their dynamic cloud spend, using advanced, AI-backed financial models. Ternary will simplify complex problems throughout the cloud migration lifecycle, providing real-time modeling resources and rate optimizations, placing workloads where they can be most efficient, and recommending managed services and serverless technologies from lift-and-shift migration.
FinSMEs
23/10/2023