With a new name and a fresh $6.2 million seed round, Mavvrik, formerly known as DigitalEx, is expanding the go-to-market mission of its unified IT financial control platform to share its capabilities and benefits with potential customers and MSP partners.
Designed to help enterprises gain full cost visibility across their cloud, AI, on-premises, and SaaS ecosystem investments, Mavvrik allows users to automate cost allocation and chargebacks, set budget guardrails and anomaly detection to prevent cost overruns, and optimize AI and GPU spending using per-model tracking and forecasting. Mavvrik also allows users to track cost levels at the customer, product, and feature levels to maximize profitability, according to the company.
The name change and new funding are slated to help Mavvrik expand its customer base and presence in the market, Mavvrik CEO Sundeep Goel told ChannelE2E.
“We started as DigitalEx, tackling cloud cost management,” said Goel. “But the more we worked with FinOps leaders, IT teams, and CFOs, the clearer it became – it was not just about cutting costs. It is about control. “
Those leaders “wanted visibility, predictability, and accountability,” he said. “They wanted to shift left, moving financial oversight closer to those spending and making decisions, rather than forcing those teams to react after the fact.”
With those requirements, Mavvrik’s name was changed to reflect independent thinking and action, and a break from the traditional, reactive approach to IT cost management, said Goel.
The new $6.2 million in seed round funding – its first major funding round – will be used to help fuel this mission with the expansion of the company’s mission, said Goel. “We scaled our exec team, but even more importantly, are accelerating product development. We have a very aggressive roadmap, and this funding sets us up nicely to move faster to be at the forefront of this market.”
The seed funding round was led by S3 Ventures and Flyover Capital, with participation from Tuesday Capital, ClutchVC, Amplify.LA, and Knoll Ventures. The company previously raised a $2 million pre-seed round in April 2023.
The Role of MSPs with Mavvrik
For Mavvrik, MSPs are key partners in selling and servicing its expertise, products, and reputation, said Goel. “Many MSPs are already running customers’ infrastructure and have advanced FinOps expertise that their customers seek,” he said. “MSPs have a massive opportunity to lead here by offering financial control as a service. The mindset is changing – it is no longer just about optimization. Companies are increasingly comfortable with spending as long as there is predictability and accountability. And in many cases, MSPs can turn responsible cost management into a revenue stream.”
Using Mavvrik, MSPs can consistently and scalably manage and optimize customer infrastructure spending, monetize cost management as a service, and help customers reduce spending waste while improving predictability, said Goel. “Done right, this is a win-win-win for Mavvrik, the MSP, and the end customer.”
Mavvrik is a multi-tier, multi-tenant SaaS platform built for scalability and data isolation. MSPs can run their own dedicated tier within the Mavvrik system where they can directly onboard and remove clients while maintaining 100% data isolation for each customer, according to Goel.
The Mavvrik platform can track and manage costs across public clouds, including AWS, Google Cloud, Microsoft Azure, and Oracle Cloud, as well as across environments, including VMware and Kubernetes. It can also track costs for AI workloads across Meta, Anthropic, OpenAI, Mistral, Amazon Bedrock, Gemini, and more, and across SaaS ecosystems for applications including Databricks, MongoDB, and others.
Tracking Cloud and Other Costs is Important, Say Analysts
Rob Enderle, principal analyst with Enderle Research, said that the impressive $6.2 million in new seed funding received by Mavvrik shows the importance and value of the company’s mission for customers.
“Having a third-party application that cuts economic waste is the way to approach this problem,” Enderle told ChannelE2E. “Providers typically are not that interested in pointing out that you are spending too much since they benefit from that spending. This kind of tool, assuming it works, typically recovers its cost very quickly making it potentially incredibly valuable.”
Automated tools for this purpose are rare, said Enderle. “This is typically approached with consultants and services that can come in and determine where your overcharges are. This is the first cross vendor automated tool that I have seen.”
For MSPs, “the margins should be relatively high given the kind of savings that typically results from a focus on wasteful spending,” said Enderle.
Another analyst, Shelly Kramer, founder and principal analyst at Kramer&Co., told ChannelE2E that FinOps are incredibly important, especially in today's multi-cloud, AI-powered world.”
“FinOps products are not only designed to provide visibility for organizations into their cloud costs and optimize spending, but they also play an integral role in connecting and aligning business needs and priorities and providing data and insights that help leaders make better decisions,” said Kramer. “Cloud cost optimization has long been a challenge for organizations, and with the addition of AI into the mix and every organization rushing to integrate AI into business operations in myriad ways, the need for visibility and cost control capabilities has never been greater.”
But, said Kramer, there are some big players with entire practices established in this space, including Deloitte and EY, and that will be formidable for Mavvrik.
“The challenge here for Mavvrik will be to convince customers that a startup in the space can deliver as effectively if not more so, and that they will be around for the long term,” she said. “They say all the right things, but the proof will be, as always, in the pudding.”
