October 23, 2023

After a year that saw more than 300% growth in our customer base and in a market that has been notoriously unfriendly to startups looking to raise capital, we are announcing our $12M Series A, led by Jump Capital. The round also includes continued support from a number of our existing investors as they validate our market approach to the FinOps space and our view that cloud financial intelligence is the way of the future.

This past year, we have welcomed some of the world’s largest enterprises and managed service providers (MSPs) to our platform. Their choosing Ternary confirms that our FinOps-native platform delivers unparalleled clarity into infrastructure and other variable spend in the cloud.

Three years ago, when we started our journey toward providing cloud financial intelligence, we focused solely on Google Cloud Platform (GCP). We did this because we believed (and still do) in the underlying technology, and we saw a market hungry for answers while our competitors saw GCP as a market too small to be worth the engineering investment. Today, we provide some of GCP’s largest customers and partners unparalleled visibility and strategies to spend according to their financial plans.

Over the past year, we’ve expanded our platform to include support for AWS, Azure, Oracle (OCI), Alibaba, and Tencent (beta). We’ve built industry-leading SSO integrations; self-hosted offerings; and ML-driven, human-tunable anomaly detection and recommendations. We’ve built industry-first and industry-leading workflows to supercharge communication between engineers, finance, and FinOps teams. Listening to our customers and recognizing the nature of their challenges, we bring active problem-solving and rapid innovation to the space.

While we have focused on solving some of the most complex, yet common FinOps challenges, we are shifting our focus to the future. Again, we see a market hungry for answers that Ternary is uniquely positioned to provide. The furious investment in AI is an opportunity for us to leverage the technology on the problems it is uniquely equipped to solve. We intend to delight our customers and partners with unique and thoughtful AI implementations. We will continue to expand our lead in GCP cost visualization and optimizations adding to the services we support, while going deeper on optimizations and service recommendations. Support for our MSP partners and our push for rapid expansion in this market will continue to be a focus area moving forward. As we continue to bridge the gap between finance, engineering and FinOps teams, we will expand our multi-cloud offering on numerous fronts.

The Ternary team is a purpose-built team of FinOps thought leaders that are addressing the most sophisticated challenges in the space. Just as we embraced FinOps from the start, we embrace the challenges our customers and partners face with curiosity and excitement.

With gratitude to our investors, customers, partners, and advisors, we look forward to the next leg of our journey together. Thank you.