Cloud Analytics company, Newvem, has announced $4 Million in Series A Funding today. Newvem enhances cloud usage effectiveness through data analytics. Newvem’s KnowYourCloud Analytics service analyses, reveals and recommends insights on Amazon AWS Cloud usage. The company’s new round of funding was led by Greylock Partners with participation from Index Ventures and Eric Schmidt’s Innovation Endeavors, as well as private investors. These include David Strohm, George Kadifa, and Maurice Werdegar.
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. As a result, they are forced to constantly invest precious time and resources into manually assessing problems occurring behind the scenes and researching for the relevant solution and often consume more resources than required and not always in the most appropriate manner.
Newvem looks to ensure customers of all major public clouds the ability to take full advantage of the resources available to them by their cloud providers. Newvem’s KnowYourCloud Analytics, is a free SaaS solution currently offered to Amazon AWS customers. Newvem’s solution provides a 360-degree view of AWS cloud usage to ensure it runs effectively and correctly. To greatly enhance cloud usage effectiveness, Newvem’s solution 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.