Yotascale Gains Strong Business Momentum in 2022 as Cloud Cost Management Becomes Top Priority for Enterprises
Company doubles ARR and surpasses $1B in annualized cloud spend under management
Yotascale, the leading choice for cloud cost management in modern SaaS organizations, announced the company’s strong business growth and recognition from top industry analysts this year. In 2022, Yotascale doubled its annual recurring revenue (ARR) and secured 100% of customer renewals with a 70% upsell rate, resulting in an impressive net dollar retention (NDR) rate of 180% year over year. The company welcomed new enterprise customers this year including Okta and Lime, and tripled its footprint at one of the top global video streaming providers.
With an engineering-friendly, “no-cent-left-behind” approach to cloud cost management, Yotascale now optimizes more than $1 billion of annualized cloud spend for some of the best SaaS teams in the world, including those at Zoom, Hulu, Compass, and Klarna. This strong business momentum is fueled by the macroeconomic climate forcing companies to prioritize cost efficiency.
Read More: UiPath Named A Leader In The 2022 Gartner Magic Quadrant For Robotic Process Automation
“Organizations are looking to rein in cloud costs as quickly as possible, and that is exactly why our approach is resonating,” said Asim Razzaq, CEO at Yotascale. “Unlike first-generation cloud cost management products that were designed to only help finance teams analyze cloud bills, Yotascale was purpose-built to help engineering teams minimize cloud spend the moment a cost opportunity or anomaly arises. With Yotascale, engineers don’t have to wait for Finance to ask; they are given the visibility, control, and trust to act. The faster you act, the more you save.”
As former head of platform engineering at PayPal and eBay, Razzaq founded Yotascale to create a new kind of cloud cost management product, one that empowers engineers to collaborate more effectively with finance and executive teams to optimize cloud costs efficiently.
Read More: SalesTechStar Interview with Pedro Souza, Vice President of Customer Care at SmartBear
“Organizations are spending millions on cloud per year, using multiple cloud providers, not truly seeing the big picture or understanding impact on profitability until it’s too late to course-correct,” said Rob Strechay, Senior Analyst, Observability, Cloud, & IT/DevOps, Enterprise Strategy Group. “Yotascale is in a strong position as a cloud cost management provider to deliver the proactive observability, detailed cost attribution, and timely anomaly detection that organizations need to empower FinOps stakeholders and deliver desired business outcomes, no matter the macroeconomic climate.”
Yotascale quickly attributes public cloud costs, including multi-cloud and container costs, within the context of the business—and keeps that attribution up to date, even as the business and infrastructure changes. Organized into hierarchies, this granular, always-accurate cost attribution is what enables all cloud stakeholders—from engineering and DevOps to finance and executive teams—to view the same cloud cost data in a way that is most useful to them, for faster decision making and maximum impact on the SaaS business.
