US-based cloud cost management provider Cloudability, backed by advertising firm Wieden + Kennedy, closed a $24m series B round yesterday that was led by VC firm Foundry Group through its Foundry Select Fund.
Cloudability has not named any other investors in the round.
Founded in 2011, Cloudability allows companies to manage spending on cloud-based services, such as Microsoft Azure and Amazon Web Services, across departments, products and infrastructure.
The company has obtained more than $40m to date.
Although our records show that, in 2012, Wieden + Kennedy participated in an $8.7m series A round that was led by Foundry Group and also included 500 Startups and Trinity Ventures, the company does not mention the marketing firm as a shareholder in its latest press release.
Trinity and Walden Venture Capital co-led a $1.1m seed round in 2011.
Matt Ellis, chief executive and co-founder, wrote in a blog post: “We will continue taking cloud cost management beyond the visualisation of the monthly bill.
“We are innovating from both the product and service standpoints to transform a company’s mountain of billing data into actionable insights to help them build bigger and more complex clouds with confidence and control.”