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OneKloud successfully raises a $1 Million Seed Round for its cloud-infrastructure cost-control platform based on predictive technology.
Successful funding round to deepen technical innovation, reinforce international teams and develop OneKloud’s unique offer for cloud-infrastructure dependent companies, through predictive technology combined with a top-down project-based management platform.
June 28, 2017
OneKloud, the innovative cloud-infrastructure budget platform that allows businesses to predict and control cloud spend, today announced a $1 million Seed Series. US venture capital firms, Birchmere Ventures who led the round, Benhamou Global Ventures (BGV) and Wharton Alumni Angels of Silicon Valley were convinced by OneKloud’s unique technology and the massive need for cost control solutions for companies dependant on cloud infrastructure. The successful financing round follows the selection of OneKloud as a 2017 Red Herring Top 100 North America Winner, earlier this month.
Founded in 2016, by French technophile entrepreneurs Eric Didier and Xavier Garcia, OneKloud leads the way in the disruption of cloud service procurement. Until now cloud infrastructure, such as AWS, has been used by programmers like an “open bar” —no accountability, no control, and huge costs. Meaning many companies are disappointed with the cloud after getting a massive bill, because they failed to accurately predict or control usage and cost. OneKloud has designed the solution by organizing AWS spend in a project-based, hassle-free and sustainable way, in line with clients’ current org-chart and way of working, thus allowing companies to uncover and prevent wasted cloud resources.
“It’s a pleasure to partner with these exceptional firms, known for helping to build high-growth technology companies,” says OneKloud CEO and co-founder Eric Didier. “We are glad to add OneKloud to the list of innovative companies partnering with these front-running names in venture capital, which share our values of accountability, flexibility, integrity and business model evolution,” he adds.
“We are delighted to help OneKloud expand their offer and strengthen teams in both France and San Francisco. The funds invested will support the creation and launch of a range of cloud-infrastructure cost control tools throughout 2017,” explains Birchmere founding partner, Ned Renzi. “In line with the company's objective of becoming the leading provider of cloud infrastructure cost control solutions, we want to support them in forging new ground in the use of predictive technology, to prevent cloud overspend before it happens,” he elaborates.
“With headquarters in San Francisco and R&D offices in Bordeaux, France, OneKloud exemplifies the seamless, borderless innovation that we embrace,” says Benhamou Global Ventures founding partner, Eric Benhamou. “They successfully bring together the best of two worlds, to design and implement this simple solution for the complex problem of cloud infrastructure overspend,” he adds.
OneKloud gets cloud infrastructure spending under total control by automatically enforcing budget quotas that are forecast and assigned per project and team, while managing workflow approval. A platform that eliminates cloud infrastructure misuse and drives day-to-day decision making to reflect high-level strategy, OneKloud reduces average cloud spending by 15% to 50%, while generating company-wide accountability. For additional information, visit www.onekloud.com.
About Birchmere Ventures
Birchmere focuses on seed stage SaaS companies and has offices in Pittsburgh and San Francisco. With over $250m under management, Birchmere’s companies have achieved a cumulative market valuation of $14b. Across five funds and two decades, Birchmere has helped build numerous successful companies such as Cvent (event management - IPO), TenMarks (math tutoring - acquired by Amazon) CyOptics (optical chips - acquired by Avago), Neolinear (EDA - acquired by Cadence), and FreeMarkets (B2B marketplace - IPO). For additional information, visit birchmerevc.com/.
About Benhamou Global Ventures
BGV is an early-stage venture capital firm with deep Silicon Valley roots, with an exclusive focus on enterprise information technology opportunities in global markets. BGV currently has 25 active companies in its portfolio. The BGV team of 8 investment professionals has successfully built and implemented a cross-border venture-investing model with companies from Israel, Europe and Asia. Eric Benhamou, former chairman and CEO of 3Com, Palm and co-founder of Bridge Communications, founded the firm in 2004. Comprised of an experienced partnership team of global operating executives and investors, BGV is often the first and most active institutional investor in a company and has a powerful network of technical advisors, executives and functional experts who actively engage with its portfolio companies. The company has offices in Palo Alto, California and Tel Aviv, Israel. For additional information, visit www.benhamouglobalventures.com.
About Wharton Alumni Angels
Wharton Alumni Angels foster an entrepreneurial community backed by the strength of the Penn and Wharton alumni network. We help members and entrepreneurs:
- Develop and build relationships around investment opportunities
- Learn about angel investing and discover the tools needed to become a better investor
- Connect with exceptional mentors
- Be a trusted, go-to destination for capital, advisory, or educational needs
Wharton Alumni Angels is also proud to be a member of Angel Capital Association (ACA). For additional information visit www.whartonalumniangels.com.