Cloudthread, a San Francisco, CA-based analytics startup, raised $3 million in seed funding to help engineering teams build with cost and environmental efficiency in the cloud.
The round was led by Peak State Ventures, with participation from Global Founders Capital, Soma Capital, and Lombard Street Ventures.
Various angel investors including Patrick Wendel (Co-Founder, Databricks), Renaud Visage (Co-Founder, Eventbrite), Jason Child (CFO, Splunk), Zack Kanter (Founder, Stedi), Ashley Smith (ex-CMO, Gitlab), also participated in this round.
Cloudthread plans to use the new financing to hire, accelerate growth, and continue building out its product suite.
Company: CloudThread Inc.
Round: Seed Round
Funding Month: December 2021
Lead Investors: Peak State Ventures
Additional Investors: Global Founders Capital, Soma Capital, and Lombard Street Ventures, Patrick Wendel, Renaud Visage, Jason Child, Zack Kanter, and Ashley Smith
Company Website: https://www.cloudthread.io/
Software Category: app analytical software
About the Company: Cloudthread was founded in 2020 with the mission of changing how engineering teams approached cloud deployment at a time when organizations struggle to understand whether they’re getting consistent value out of the cloud through growth and seasonal fluctuations. The startup achieves this via its initial solution, which focuses on cost efficiency monitoring, combining cloud cost and application usage data to create unit metrics that map to the value that a certain application or team is getting from the cloud.