“There’s a growing issue in the cloud space,” Giri told TechCrunch. “As companies tighten budgets ahead of fiscal 2025 planning, a solution providing a comprehensive, automated view of cloud costs is critical.”

To Giri’s point, efficient cloud usage remains an aspiration, not a reality, for many companies, particularly as companies invest more in cloud-hosted AI projects. (Gartner projects that spending on cloud services will reach $675.4 billion in 2024, up from $561 billion in 2023.) In a 2024 Statista survey, 84% of organizations said that they found managing cloud spend to be a “significant” challenge thanks to blockers around governance, security and tech expertise.