Reserved.ai has just raised $3.3M in a funding round, ending in February 2020, to double down on helping cloud customers optimize and automate their AWS financial management.
The strong funding round showed the market’s belief in Reserved.ai’s ability to provide unique savings for its customers. Reserved.ai’s management team has extensive experience handling complex cloud cost problems. As a former AWS engineer, CEO Aran Khanna knows AWS inside and out; CTO Nikhil Khanna previously co-founded another startup, Glia Intelligence, that used machine learning for supply chain optimization; and VP of Engineering Daniel Christianto was formerly Head of Infrastructure for one of the largest cloud consumers in the world.
Khanna said he plans to use the money from the funding round to expand the sales team, drive continuous product innovation, and expand beyond AWS into Azure and Google Cloud.
Reserved.ai is the only player in the market offering guaranteed buyback of AWS reservations, which means their customers can secure the maximum savings rates without lock-in risk.
Key metrics as of February 2020:
● Over 20 active customers
● 35% average savings on AWS bill compared to On-Demand
● Over $2M already saved by customers on AWS bills