Cloud cost management platform Finout has raised US$40 million in its series C funding round, led by Insight Partners with participation from Pitango, Team8, Red Dot Capital, and Maor Investments.

The company plans to use the new funds to grow its engineering team in Tel Aviv and enhance its go-to-market strategies.

Finout has now raised a total of US$85 million, following a US$26 million series B round in March 2024.

Based in Tel Aviv and New York, Finout operates in the FinOps sector, a set of best practices designed to help businesses efficiently manage and optimize their cloud computing costs.

Its clients include SiriusXM, Lyft, The New York Times, and Choice Hotels.

The latest funding comes amid shifting market dynamics, with Broadcom acquiring VMware’s Tanzu CloudHealth and Kubecost by IBM, creating new challenges for Finout.