North.Cloud has successfully closed its Series A funding round, raising $5 million led by Companyon Ventures.
The company also launched North 2.0, a suite of new products merging FinOps, GreenOps, and AI to tackle the cost and complexity of multi-cloud infrastructure.
“This funding allows North.Cloud to deepen its commitment to solving the most pressing challenges in cloud cost management,” said Matt Biringer, co-founder and CEO.
“We’re grateful to our investors for recognising the immense opportunity to accelerate savings, tackle complexity, and deliver sustainability-focused solutions tailored to our customers’ needs.”
Over the past year, North.Cloud has collaborated with the world’s preeminent engineering teams to monitor AWS and GCP bills, usage spikes, and commitments across fragmented dashboards.
The newly released platform offers industry-first tools, including AI-powered recommendations, real-time fleet intelligence, and a sleek, user-first design, to deliver unprecedented clarity and actionability in cloud management.
“We’ve been blown away by the speed and efficiency of the North team. Their unique approach consistently delivers significant savings over traditional cloud cost and visibility tools,” said Andrew Berg of Companyon Ventures.
“With AI adoption accelerating, companies are seeing a surge in cloud usage and infrastructure complexity. North is perfectly positioned to meet this moment, helping teams stay agile and cost-efficient through automation that scales with demand.”
New Platform Highlights Include:
- Arctic – Real-Time Commitment Automation: Arctic dynamically reallocates AWS and GCP commitments based on real usage, cutting compute costs by up to 55%—no forecasts or lock-ins needed.
- Coststreams – Cost Allocation Without Tags: Coststreams offers real-time cloud spend visibility by team or environment, without relying on inconsistent tags. Budgets are built-in and actionable.
- Agent North – AI-Powered FinOps Copilot: Ask plain-language questions in Slack or the app to analyse spend, flag anomalies, and generate instant FinOps insights, with no analyst required.
- GreenOps Impact Visualisations: Track carbon, energy, and water usage alongside cost metrics to align spend with environmental impact.
- Expanded Support for GCP: North now supports AWS and GCP optimisation in a unified workflow, bringing automation, savings, and visibility across multi-cloud environments.
Since its launch in late 2023, the platform has delivered extraordinary outcomes, including:
- Generating $0 to $6M in ARR in just 14 months.
- Achieving up to 50% savings on AWS compute spend.
- Onboarding customers in under 5 minutes, with first savings surfaced within 30 minutes.
- Ranking in the top 1% of AWS savers globally.
Already supporting verticals like content platforms, healthcare, fintech, and e-commerce, North.Cloud supports innovators like Brave and Stayntouch, helping organisations modernise infrastructure and simplify financial operations.
The public cloud today handles $200 billion in annual technology spend. Despite being one of the most complex licensing ecosystems ever made, over 95% of this spending is still managed with a credit card and a spreadsheet.
With the AI boom poised to supercharge this category to over $1 trillion by 2030, the need for better tools has never been greater.
