Kubecost Expands Open Source Project, Community Involvement, and Enterprise Customers in 1H of 2022
Running across clouds or on-prem, Kubecost provides the spend visibility and allocation necessary to significantly and continually optimize Kubernetes costs
SAN FRANCISCO and KUBECON EU, May 16, 2022 (GLOBE NEWSWIRE) — Kubecost, a solution for monitoring, managing, and optimizing Kubernetes spend at scale, today announced it has more than doubled adoption recently as developers, engineers, and FinOps teams seek to control runaway cloud costs and unnecessary spend.
Enterprise use of Kubernetes continues to scale quickly as organizations modernize application development. The most recent Cloud Native Computing Foundation (CNCF) survey on Kubernetes and container deployment trends found that 96% of businesses are now using or actively evaluating containers in production environments. For many businesses, Kubernetes-related cloud expenses have been rising even faster. A separate CNCF report specific to Kubernetes spending underscored how significantly costs have been increasing. While most enterprises reported higher cloud bills attributed to Kubernetes in the past year, 35% of all respondents said their Kubernetes costs have gone up dramatically, with costs climbing more than 20%.
“With the right data, organizations can confidently scale their container deployments knowing precisely where their budget is going,” said Stacy Tumarkin, head of operations at Kubecost. “Kubecost is built to ensure teams aren’t paying for resources they don’t need, and they can do so without impacting the speed of development or the performance of their applications. Kubernetes is an incredibly powerful platform and the future of development—but enterprises can use and scale it without overpaying the cloud costs that so many of them are right now.”
Kubecost highlights year-to-date heading into KubeCon EU include:
- The community continues to rally around the Kubecost open source project: Community involvement with the Kubecost open source project is accelerating. Membership on GitHub is up 60% over the past year and activity on GitHub from non-Kubecost contributors now makes up 40% of all activity. Nearly 1,600 individuals are currently active in the Kubecost community Slack channel, up 40% from October 2021.
- New enterprise customers include Under Armour and Broadcom. Kubecost continues to pick up new enterprise users. Companies including Under Armour and Broadcom have recently joined other enterprise users such as Adobe, Capital One, and Allianz. Kubecost’s annual recurring revenue (ARR) has tripled in the past 12 months, as its paying customer count has doubled.
- Kubecost announced its Series A. In February, Kubecost announced $25 million in Series A funding in a round led by Coatue Management, with participation from seed investors First Round Capital and Afore Capital. This follows the 2021 seed round of $5.5 million to help teams monitor and reduce their Kubernetes spend.
About Kubecost
Kubecost, launched by Stackwatch in 2019, helps developers and other stakeholders, including CFOs, understand and optimize Kubernetes spend. More than 2,000 companies use Kubecost across all major cloud providers and in on-prem and air-gapped environments. Visit www.kubecost.com
CONTACT: Contact Kyle Peterson [email protected]
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