Usage AI (usage.ai), a platform that helps companies to reduce their monthly cloud expenditure, has announced the close of its seed round.
“The company generates, on average, 35% in monthly AWS savings for its customers. Because the company has collected millions of data points from its opt-in users with a variety of usage patterns, it’s been able to identify hard-to-find savings that humans can’t detect. It takes less than 15 minutes for a company to onboard with the company. Additionally, the company’s customers get the deep discounts of reservations with the flexibility of on-demand since companies can sell their reservations back to Usage AI after just 30 days,” the statement said.
Lead investor Justin Mateen has plugged the company into several of his multi-billion dollar portfolio companies, and the company is saving them millions of dollars annually on AWS, it added.
“We are on a mission to show that you don’t need to pay exorbitant sums to take advantage of the cloud,” said Kaveh Khorram, founder and CEO of the company. “We are empowering companies to be at the center of their cloud spend – to know exactly where every dollar is going at any point in time. the company’s models automatically identify and reduce overspend at the most granular level.”
The company has a central dashboard for companies to register and view automated cost-saving recommendations. The dashboard allows companies to view, modify, and apply savings across their entire cloud portfolio.
“We have millions of data points and have saved our customers, on average, between 30 and 35% on their overall cloud spend,” said Kaveh Khorram, founder and CEO of www.usage.ai.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.