MontyCloud, a Redmond, Wash.-based startup that helps companies optimize their cloud operations, raised a fresh Series B round to fuel growth.
The company announced the funding in a press release Wednesday but did not reveal the amount raised. A new SEC filing shows $11.4 million raised. We’ve reached out to the company for details.
Founded in 2018, MontyCloud builds software that helps companies run and control their cloud infrastructure automatically, from fixing bugs to optimizing spend. MontyCloud is part of a broader push to use AI not just for apps, but for automating back-end IT operations.
The company says cloud spend under management has grown more than 400% over two years, with recurring revenue nearly tripling (both measured by compound annual growth).
MontyCloud targets Managed Service Providers (MSPs) as well as enterprise companies.
The latest round was led by Riverside Acceleration Capital. Other backers include Lytical Ventures, S3 Ventures, Madrona Venture Group, and Raptor Group.
MontyCloud is led by CEO Walter Rogers, a tech industry vet who joined the company in 2022. The company was founded by Venkat Krishnamachari, chief product officer, and Kannan Parthasarathy, chief technology officer.
“Our growth reflects a fundamental shift in how organizations approach CloudOps,” Rogers said in a statement. “The industry is moving away from manual processes and fragmented tools toward a model that enables teams to optimize and operate cloud environments while unlocking new opportunities to monetize CloudOps.”
MontyCloud has 85 employees, with a majority based in India, according to LinkedIn.
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