Our expanded relationships and venture funding
Increase your cloud savings and velocity while decreasing long-term spending lock-in
We are excited to announce our $17M Series B funding and new strategic financing and insurance relationships that will enable Archera to offer a wider array of commitment insurance products at lower costs for our customers.
Archera is the first and only insurance-backed protection against unconsumed cloud commitments, helping organizations gain flexibility and control over public cloud rates so that they can focus on innovating faster.
Archera uniquely de-risks cloud savings
Controlling the rates you pay Amazon Web Services (AWS), Microsoft Azure, and Google Cloud (GCP) by making spending commitments is the fastest path to saving money without engaging DevOps or Engineering to make potentially risky infrastructure changes. When executed correctly, native Savings Plans (SPs), Reserved Instances (RIs), and Committed Use Discounts (CUDs) commitments are an effective way to decrease costs at every stage of cloud maturity.
Archera offers customers a unique, free platform for automating cost optimization with native cloud commitment offerings, while enabling cloud cost and usage visibility and long-term forecasting. We make money by offering customers first-of-kind, opt-in insurance for any cloud commitments purchased with Archera’s platform. These Insured Commitments make it possible to confidently cover many types of short-term or uncertain cloud usage with cloud service provider (CSP) discounts. This usage is otherwise impossible to cover with native SPs, RIs, and CUDs, which require inflexible one or three-year spending commitments.
“Our approach is fundamentally different: we give away free, state-of-the-art capabilities to automate native CSP cost optimization constructs like Savings Plans and RIs. The only place we want to make money is in providing new primitives, like our short-term Insured Commitments, and unlocking new savings strategies for customers by filling the gaps left by native offerings.”
— Aran Khanna, Co-Founder and CEO
Our growth and recent expansion
Archera increased our customer count more than 12x over the last year, and thanks to their continued trust, we also grew our revenue over 500% in that time. Our close partnership and co-sell relationship with AWS continues to be one of our greatest strengths: we collaborated with Amazon sellers on 400+ opportunities over the last 12 months. All of this helped Archera achieve net profitability in 2023.
In 2024, we've accelerated further and faster, continuing to double down on excitement from customers and partners, and scaling many new successful channel relationships.
Why we’re fundraising and signing insurance partners
To achieve our mission of helping all organizations purchase cloud services on their terms, we need to embrace more platforms, partners, and customers, as well as scale the breadth of products that we offer.
We've grown our development organization twofold, and are announcing the general availability of multicloud support this month, starting with the release of cost management and Insured Commitments for Microsoft Azure. Additionally, we plan to launch Insured Commitments for Google Cloud later this year, along with new, in-the-works commitment insurance and financing products.
This expansion has been enabled by our recent $17 million Series B round, led by Highsage Ventures with participation from our ongoing partners at Ridge Ventures, Amplify, and PSL Ventures. We are also establishing strategic relationships with new, innovative insurance partners, including Relm Insurance, which will allow us to scale to over $100 million in reinsurance and lending capacity, reducing the premiums our customers pay for Insured Commitments and increasing the scope of services our insured and financed savings instruments can cover.
What you can expect from Archera’s next chapter
We’re moving aggressively to translate this new financial backing into tangible benefits:
- For FinOps practitioners, DevOps, and cloud procurement teams: Access net-new savings instruments and strategies that make it more cost-effective and flexible to commit to cloud resources: See what’s around the corner
- For existing customers: Microsoft Azure cost management and Azure Insured Commitments go GA this month. Exciting new financial products that reduce the risk of multicloud commitments and help you take greater advantage of private CSP pricing are planned by the end of the year.
- For channel partners: Support for more cloud programs like MAP, along with Azure and GCP cost management will enable you to better support your customers along their hybrid and multicloud journeys. New products to insure and finance multicloud commitments will enable you to drive more co-sell revenue as you bring value to your customers.
- For our co-sell partners at AWS: Our relationship with Amazon has never been more critical to our success, and we are doubling down by expanding our alliances team and co-sell efforts to ensure Archera customers commit faster and reinvest savings into new projects on AWS.
Get cloud on your terms
Archera’s solutions benefit every organization of any size or level of cloud usage, and many customers use Archera to optimize their commitments and save millions without ever paying us a penny. Now is the best time yet to schedule a demo and see firsthand how our no-cost platform can maximize your native cloud commitment strategy and reveal new significant savings strategies through our unique short-term Insured Commitments. Transform your cloud purchasing strategy and start saving today!
