Archera, a Seattle, WA-based cloud purchasing and management solutions provider, has closed a $17 million Series B funding.
Investors
The round was led by HighSage Ventures, with participation from Ridge Ventures, Amplify Partners, and PSL Ventures.
HighSage is a Boston-based investment firm funded by permanent capital. The firm invests in public and private companies across industries and security types, with the goal of creating value to be used for philanthropic endeavors.
Archera Use of Funds
The company will use the funding to accelerate its multi-cloud offerings and develop new financial products.
About Archera
Founded in 2019 by brothers Aran and Nikhil Khanna, Archera provides cloud purchasing and management solutions. Designed for cloud engineering, DevOps, FinOps, and finance teams, Archera's free platform and unique insurance and financing products offer flexibility, control, and automation in buying public cloud resources. The company serves prominent tech firms like Hex, OctoAI, and numerous Fortune 500 companies.
Funding Details
Company: Archera.ai Inc.
Raised: $17.0M
Round: Series B
Funding Month: July 2024
Lead Investors: HighSage Ventures
Additional Investors: Ridge Ventures, Amplify Partners, PSL Ventures
Company Website: https://archera.ai/
Software Category: Cloud Purchasing and Management
Source: https://www.prnewswire.com/news-releases/archera-announces-series-b-funding-and-100-million-reinsurance-and-lending-capacity-to-transform-cloud-purchasing-and-management-302206598.html