Ternary is a multi-cloud FinOps platform dedicated to enabling organizations to manage and optimize their cloud expenditures across various service providers. Founded in May 2020, the company has rapidly established itself as a leader in cloud financial management, offering solutions that provide comprehensive visibility and control over cloud spending. Ternary's mission is to unlock the strategic value of cloud investments for its customers and partners by delivering FinOps best practices through an intuitive and scalable platform.
Key Strategic Focus
Ternary's strategic focus centers on providing a unified platform for multi-cloud financial operations (FinOps). The company specializes in aggregating and normalizing billing data from major cloud service providers, including Google Cloud Platform (GCP), Amazon Web Services (AWS), and Microsoft Azure. This approach enables organizations to achieve granular cost visibility, optimize cloud spend, and foster financial accountability across technical and financial teams. Ternary's platform offers features such as rightsizing resources, managing commitments to maximize discount coverage, and detecting anomalies with machine learning-powered alerting.
Financials and Funding
As of October 2023, Ternary has raised approximately $20 million in funding. The most recent funding round was a $12 million Series A led by Jump Capital, with participation from Fin Capital, RiverPark Ventures, Great Oaks Venture Capital, and Gaingels. The capital is intended to enhance Ternary's platform capabilities, expand its revenue team, and accelerate product development to meet the growing demand for cloud cost management solutions.
Technological Platform and Innovation
Ternary's platform is distinguished by its comprehensive multi-cloud support and rapid feature development. Built on native GCP serverless services, it is designed to process billions of dollars in cloud spend with infinite scalability. The platform provides real-time billing data ingestion, cost analysis, and optimization recommendations across GCP, AWS, and Azure. Notable features include:
- Data Analysis and Reporting: Customizable reports and dashboards, budget forecasting, and precise cost allocation.
- Cost and Usage Efficiency: Resource rightsizing, commitment management, anomaly detection, and integration with tools like Jira for case management.
- Integrations and Deployment: Agentless setup, flexible API for custom workflows, prebuilt integrations with platforms such as Datadog and Snowflake, and options for SaaS or self-hosted deployment to meet compliance needs.
Leadership Team
Ternary's leadership comprises experienced professionals with deep expertise in cloud financial management:
- Sasha Kipervarg, Chief Executive Officer and Co-founder
- Joshua Kwan, Chief Technology Officer and Co-founder
- Yalei Wang, Vice President of Product Delivery
- Danny Kornreich, Head of People and Talent
- Marie Brown, Head of Marketing
- Bob Kilbride, Head of Direct and Channel Sales
- David Shurtliff, Head of Customer and Partner Success
Competitor Profile
The cloud financial management market is experiencing significant growth, with an increasing number of organizations seeking solutions to optimize their cloud expenditures. Ternary operates in a competitive landscape alongside several key players:
- CloudHealth by VMware: Offers cloud cost management and optimization services.
- Apptio Cloudability: Provides cloud financial management solutions focusing on cost transparency and optimization.
- ProsperOps: Specializes in automated cloud cost optimization.
Ternary differentiates itself through its rapid feature development, comprehensive multi-cloud support, and a partner-first approach, enabling managed service providers (MSPs) to scale their cloud financial management services effectively.
Strategic Collaborations and Partnerships
Ternary has established significant partnerships to enhance its market position and innovation capacity:
- Managed Service Providers (MSPs): Ternary's MSP Partner Program offers joint go-to-market opportunities and collaborative product development, enabling partners to deliver differentiated FinOps services to their customers.
- Cloud Service Providers: As a Google Cloud Partner and a FinOps Foundation-certified platform, Ternary collaborates closely with major cloud providers to ensure seamless integration and support for multi-cloud environments.
Operational Insights
Ternary's strategic considerations include:
- Market Position: Positioning itself as a leader in multi-cloud FinOps by offering a platform that addresses the complexities of managing cloud expenditures across multiple providers.
- Competitive Advantages: Rapid feature development, comprehensive multi-cloud support, and a partner-first approach that empowers MSPs to scale their services.
- Customer Success: Focusing on customer and partner success by actively incorporating feedback and leveraging the team's extensive experience in FinOps.
Strategic Opportunities and Future Directions
Ternary's strategic roadmap includes:
- Product Development: Continuing to enhance platform capabilities to meet the evolving needs of enterprises and MSPs in managing cloud expenditures.
- Market Expansion: Expanding its customer base by targeting organizations seeking comprehensive multi-cloud FinOps solutions.
- Partnership Growth: Strengthening existing partnerships and establishing new collaborations to extend market reach and drive innovation.
By leveraging its current strengths and focusing on these strategic opportunities, Ternary aims to solidify its position as a leading provider of multi-cloud financial management solutions.
Contact Information
- Website: Ternary.App
- LinkedIn: LinkedIn Profile for Ternary
- Twitter: Twitter Profile for Ternary
