Newvem, cloud analytics provider, has received $4 million in Series A funding led by Greylock Partners. Other participants were Index Ventures, Innovation Endeavors and private investors.
Newvem's KnowYourCloud Analytics is a free SaaS solution for Amazon AWS customers, currently in private beta, that provides a full view of their cloud usage to enable running a reliable and efficient cloud deployment. The service collects and analyzes AWS usage data, revealing issues and anomalies in their cloud, and recommends actionable insights that help solve not just cost efficiency, but also security, availability, and utilization issues.
Newvem is working to solve the ongoing problem of cloud resource sprawling and in particular identifying sub-optimal and vulnerable use of cloud resources. Current usage practices rely heavily on human operators reacting to large amounts of cloud resources data. This problem intensifies as business imperatives change and more resources are needed to scale to meet these business needs. As the adoption of cloud services accelerates, DevOps, IT Managers and other cloud stakeholders are challenged in running a reliable and efficient cloud deployment- ensuring availability, security, and cost efficiency.
The $4 millions in funding will be used to expand analytics to other public clouds and provide cloud best practices research for the broader community.