Data analytics business Newvem has secured $4 Million 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. These include David Strohm, George Kadifa, and Maurice Werdegar. Erez Ofer from Greylock Partners will be joining the Newvem board of directors.
Newvem, the leader in enhancing cloud usage effectiveness through data analytics, has announced $4 Million in Series A Funding. Newvem’s KnowYourCloud Analytics service is the authority on analyzing, revealing and recommending powerful 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. As part of this financing round, Erez Ofer from Greylock Partners is joining the Newvem Board of Directors.
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.
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.
According to Zev Laderman, CEO and Co-Founder, “We heard loud and clear from many developers, business managers, DevOps and other IT folks: When it comes to improving their AWS cloud experience, reducing costs is simply not enough. They continue to struggle with understanding how availability, utilization, and security impact IT costs in order to meet business imperatives. Newvem goes one step further by democratizing cloud knowledge for our users. We help them find relevant solutions by bridging the gap between their cloud usage analysis and the crowd sourced knowledge of experts in the community to better manage their cloud environments.”
Newvem’s KnowYourCloud Analytics is currently in private beta. KnowYourCloud Analytics has already delivered value, including security enhancements, utilization improvements and cost savings of up to 50% for both SMB and enterprise applications. “We have found that Newvem’s insights enable us to better optimize our AWS cloud, more effectively align IT with our business objectives to realize significant time and cost savings,” said Andrew Mayhew, Cloud Service Operations Manager at SafeNet, a world leader in data protection solutions. He continues, “Equally important for any time and resource constrained operation — Newvem’s KnowYourCloud Analytics can be up and running in less than 5 minutes.”
With $4 million in new funding, Newvem will continue to enhance its KnowYourCloud Analytics to other public clouds. In addition, the company will continue to share cloud usage information with the broader community by publishing aggregated information and segmented insights that highlight benchmarks and are already becoming the best independent source for cloud best practices. In parallel, Newvem will bring forward the community of cloud experts in order to share knowledge and improve overall effectiveness to all users.
Newvem is the leader in enhancing cloud usage effectiveness through data analytics. Newvem’s KnowYourCloud Analytics, a free SaaS solution for Amazon AWS customers, provides a 360-degree 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.
Dev-Ops, IT Managers and Business Managers use Newvem every day to discover meaningful insights on their cloud-based infrastructure, including potential costs savings, security threats, and availability issues. Newvem is led by a seasoned team of serial entrepreneurs and is funded by Greylock Partners, Index Ventures, Innovation Endeavors and others.
Zev Laderman, Co-Founder and CEO. Zev is a highly experienced executive in the enterprise and start-up space. He has successfully led and sold two companies, including Aduva to Sun Microsystems and Tradeum to VerticalNet, seeded and contributed to WIX, the industry leading rich-graphic Webtop publishing SAAS platform, and built successful business units within Oracle.
Ilan Naslavsky, Co-Founder and CTO. Ilan is a highly experienced technologist delivering world class design, architecture, and implementation, including serving as Lead Engineer and Chief Architect at Sun (acquired by Oracle) and Chief Architect and Director of R&D at Aduva (acquired by Sun).