Foundry Group leads Series B funding for Cloudability

Cloudability has closed a USD24 million Series B round of funding led by the Foundry Group Select Fund, bringing Cloudability´s total funding to date to over USD40 million, the company said.

The cloud computing and infrastructure market is expected to grow to USD122 billion by 2019 according to Goldman Sachs. The cloud provides access to computing resources, and as deployments grow, organizations face increasing visibility and management challenges.

Cloudability specializes in cloud cost management tools and services that enable companies to manage and direct cloud spending across departments, products and infrastructure. Cloudability is backed by Foundry Group, Techstars, 500 Startups, Trinity Ventures and First Round Capital.