San Francisco, Calif.-based Ternary, a platform specializing in multi-cloud spend management, has raised a $12 million Series A funding round.
Ternary’s Series A round was led by Jump Capital, with existing investors Fin Capital, RiverPark Ventures, Great Oaks Venture Capital, and Gaingels also participating. Jump Capital’s Saaya Nath and Fin Capital’s Logan Allin has joined the Ternary board of directors in connection with the funding.
Ternary aims to facilitate collaboration between FinOps experts and finance teams with engineering departments. The platform provides tools for advanced modeling that assist in the allocation of resources across various products, cloud providers, and business divisions, according to the company.
The new funding will be directed towards enhancing Ternary’s product features.
Read the blog post by Ternary co-founder and CPO Patrick Raymond on the company’s Series A round here.