Apptio acquires multi-cloud savings automation organisation Cloudwiry

Sunny Gupta, Chief Executive Officer at Apptio

Apptio, Inc., the provider of technology business management (TBM) applications, announced that it has acquired Cloudwiry, a market leader in multi-cloud savings automation and FinOps. Founded in 2016, Cloudwiry automates commitment management and optimisation on behalf of its enterprise customers, maximising savings, reducing risk, and increasing flexibility.

What does Cloudwiry bring to Apptio’s portfolio?

Based in Austin, Cloudwiry was founded to simplify the biggest cloud cost challenges through automation and innovation. It recognised sources of waste and inefficiency in the cloud and the subsequent need for automated financial management and enhanced cost insights.

Addressing this need, Cloudwiry developed a platform centered around automated rate optimisation, rightsizing, and interactive inventory capabilities across AWS, Azure, and GCP. It helps companies better manage reserved instances and savings plans through the Cloudwiry Savings Autopilot tool, allowing many to reach 95%-plus coverage and 99% utilisation.

Commenting on the acquisition, Sunny Gupta, Chief Executive Officer at Apptio, said, “As broad macroeconomic headwinds continue to present themselves, our clients increasingly rely on Apptio for visibility, optimisation, and automation to manage their public cloud spend.”

“By pairing Apptio’s market-leading Cloudability with Cloudwiry, we are able to provide customers with unparalleled visibility, insights, planning, optimisation, and automation capabilities for reservations and savings plans, helping customers deploy the most efficient cloud infrastructure footprint to fuel innovation and meet business demands,” Gupta said.

What does the transaction mean for Cloudwiry?

Aditya Datta, Founder and Chief Executive Officer at Cloudwiry

“Not only do strong synergies exist between the Apptio and Cloudwiry products, but we also have a shared passion for helping customers increase productivity, reduce waste, and save money,” commented Aditya Datta, Founder and Chief Executive Officer at Cloudwiry.

“Cloudwiry was built to automate cloud financial instruments like reserved instances and savings plans so that FinOps practitioners could focus their time on more important priorities and firms could recognise more meaningful savings with better coverage and utilisation.”

Together, Cloudwiry and Apptio will empower thousands of customers all around the world to drive financial and operational excellence in cloud and hybrid environments with the market’s most mature and powerful platform. This transaction closed on December 22, 2022. Cloudwiry will no longer operate as an independent firm but will be integrated into Apptio.