MontyCloud, a startup focused on automating cloud operations, has successfully secured $11.4 million in a recent Series B funding round, as indicated by a filing with the SEC. The company, founded in 2018 and based in Redmond, Washington, aims to enhance the management and optimization of cloud infrastructure for businesses.
Led by CEO Walter Rogers, who joined in 2022, MontyCloud has experienced significant growth, with cloud spending managed by the company increasing over 400% in the past two years. Recurring revenue has nearly tripled during the same period. The company primarily serves Managed Service Providers (MSPs) and enterprise clients.
The funding round was spearheaded by Riverside Acceleration Capital, with participation from several investors, including Lytical Ventures, S3 Ventures, Madrona Venture Group, and Raptor Group. MontyCloud employs 85 staff members, with a significant portion located in India.
According to Rogers, the company’s growth signifies a shift in how organizations manage their CloudOps, moving from manual and disjointed tools to more integrated solutions that enhance operational efficiency and create new business opportunities.