Ternary has raised $12M in a Series A funding round

Ternary analyzes a company's largest cloud line items, making recommendations for cost-saving measures

With participation from Fin Capital, RiverPark Ventures, Great Oaks Venture Capital, and Gaingels, Ternary, a platform that assists businesses in managing how much they spend on cloud resources across multiple public cloud providers, made an announcement that it has raised $12 million in a Series A funding round which was led by Jump Capital. The additional funding will go into Ternary's go-to-market initiatives, scaling its revenue team, and making "continued investmetns" in Ternary's product development, according to co-founder and CEO Sasha Kipervarg. With this round, Ternary has now raised approximately $20 million. Kipervarg, Patrick Raymond, and Joshua Kwan, the three co-founders of Ternary, got to know one another while collaborating on an extensive cloud data transfer project for LiveRamp, the software-as-a-service data connectivity and orchestration platform.

They ultimately overspent by $300 million, a situation that took years to resolve before they decided to construct what Kipervarg refers to as "the tool we wished we had during migration." 74 percent of the respondents from 2023 Wakefield Research survey indicated they now value FinOps on par with other well-known IT specialties like DevOps and SecOps. Like other FinOps tools, Ternary analyzes a company's largest cloud line items, making recommendations for cost-saving measures and making an effort to estimate spending.