IBM Acquires FinOps Startup, Kubecost

FinOps is a blend of two words, finance and DevOps and it seeks to address the collaboration and accountability between cloud computing costs and operations in organizations. Some companies spend wastefully on their cloud infrastructures while others don’t spend enough. A recent survey reported that majority of companies are currently interested in optimizing their current cloud costs and setups, rather than move new projects to the cloud. Thus, the main idea behind FinOps is to create a framework which enables teams or organizations to become efficient in their cloud expenditures.

IBM recently announced the acquisition of Kubecost, a startup which plays in the FinOps space. IBM intends to integrate Kubecost into its existing suite of IT and related FinOps tools. Terms of the deal were not disclosed. Kubecost had raised almost $30 million in seed and series A rounds.