Ternary, a San Francisco, CA-based multi-cloud spend management platform, has closed a $12 million Series A financing round.
SaaS Investors
The round was led by Jump Capital, with continued support from existing investors Fin Capital, RiverPark Ventures, Great Oaks Venture Capital, and Gaingels.
Jump Capital is a thesis-led, sector-focused, and operating-centric venture capital firm specializing in Series A. Jump invests in data-driven technology companies within the FinTech, B2B SaaS, IT/Data Infrastructure, and Media sectors. With offices in Chicago and New York, Jump provides advocacy and support through a platform of institutional-level resources for entrepreneurs.
Saaya Nath and Fin Capital’s Logan Allin of Jump Capital joined the Ternary board of directors.
Ternary Use of Funds
Ternary will use the funding to enhance product development, offering industry-leading features and data integrations, and two-way synchronizations with other systems to empower customers to track cloud spending optimizations to completion.
About Ternary
Ternary is a multi-cloud spend management platform customers can leverage to optimize their costs. The platform is designed to enable collaboration between finance, engineering, and cloud operations teams for advanced financial modeling, resource placement, budgeting, and efficient cloud spend analysis across various products, clouds, and business units. The platform will also include sophisticated commitment modeling for multicloud ramp plans, simplifying complex cloud migration processes. Ternary’s platform is available as a SaaS product or as Ternary Self-Hosted. Since launching in 2021, Ternary has grown to hundreds of active customers and manages more than $7B billion in cloud spending.
Funding Details
Company: Ternary, Inc.
Raised: $12.0M
Round: Series A
Funding Month: October 2023
Lead Investors: Jump Capital
Additional Investors: Fin Capital, RiverPark Ventures, Great Oaks Venture Capital, and Gaingels
Company Website: https://ternary.app/
Software Category: Multicloud Spend Management Platform
Source: https://www.businesswire.com/news/home/20231023417439/en/Ternary-Raises-12M-in-Series-A-Funding-to-Deliver-Cloud-Financial-Intelligencex