As the next major milestone in our journey, we are proud to share that we’ve raised $25 million in Series A funding led by Coatue Management to help developers optimize and run Kubernetes at scale. We’re also excited to announce that our lead investor at Coatue, David Cahn, will join our board of directors. He brings a wealth of expertise from investing in now-public companies like UiPath, Confluent, Snowflake, and Gitlab, as well as leaders in the cloud-native space such as Starburst, Snyk, and Databricks. Our angel investors in this round include Snowflake CFO Michael Scarpelli and Looker co-founder Ben Porterfield, as well as our existing investors First Round and Afore Capital. We’re thrilled to be partnering with them, alongside other great investors joining our Series A, as we continue to scale our product and company.
As of a December 2021 CNCF survey, there are now more than 5.5 million developers using Kubernetes and this number is only growing. While solving challenging infrastructure monitoring problems at Google, we saw firsthand how complex it can be to run containers and distributed systems efficiently at scale. That’s why we launched Kubecost in early 2019: to help teams monitor and optimize Kubernetes infrastructure by empowering them with meaningful and insightful data.
We now have thousands of teams—Adobe, Allianz, Capital One, and Under Armour among them—using our product at enterprises across the world, with our solutions now monitoring billions in infrastructure spend and providing cost transparency and optimization to tens of thousands of engineers. Another recent CNCF survey has already identified Kubecost as the most used tool for monitoring Kubernetes spend across all major clouds or in on-prem environments.
Kubecost’s growth speaks to organizations’ increasingly critical need to get an understanding of Kubernetes-related spend. In the rush to application modernization and containerized environments, we’ve seen how inefficient practices, overprovisioning, and a lack of awareness can contribute to unnecessary spending with no guardrails to protect against this. We provide our users and customers with the visibility and optimizations required to rein in Kubernetes spending and save them significant budget—both immediately and with sustainable practices for the long term. We plan to build on this momentum with our Series A funding, by building more features in our core products, investing in the open source community, and growing a fantastic team to support our customers along their Kubernetes adoption journey.
As engineers ourselves, we’re committed to building a product experience that serves developers’ needs—giving users the ability to easily install within minutes without ever contacting sales, sharing sensitive data, or giving up control—and ensuring everyone has access to our software, no matter their budget.
We’ve built an active open source community around Kubecost and we ourselves continue to be actively involved in the broader Kubernetes community. Stay tuned for a slew of exciting open source contributions, product launches, and even more resources dedicated to ensuring we bring value to a growing community of users.
Webb & Ajay, on behalf of the Kubecost team