Cloud Monitoring Provider Metricly Raises $9 Million

By StartUp City

Metricly, a Reston, Va.-based cloud monitoring service built on a machine learning platform, raised $9m in Series A financing.

Rembrandt Venture Partners led the round with participation from Bowery Capital. Besides, the company secured $2m from Western Technology Investment, a Silicon Valley-based venture debt firm.

The proceeds will be used to accelerate engineering and marketing initiatives.

Metricly provides a SaaS-based cloud monitoring service to cross-analyze performance, capacity and cost together using machine learning algorithms. The solution delivers real-time dashboards, recommendation reports, and dynamic notifications for automated action to reduce cloud spending and avoid performance problems. The company has ranked number one the list of 'Best Cloud Management Tools of 2018' by Computer World as Metricly's self-service offering activates in a few seconds.

In addition to the funding, the company announced that Mark Roberge and Vik Duggal had joined its advisory board as consultants to help strengthen and scale sales, marketing, and customer success management processes to prepare for the next phase of growth.