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ProsperOps 2023 Year in Review

Originally Published January, 2024
ProsperOps 2023 Year in Review

2023 was a year of remarkable growth and innovation for ProsperOps.

We continued to improve the way businesses manage and optimize their cloud costs, solidifying our position as a leader in FinOps.

Here’s a recap of big moments for us in 2023:

  • January 2023 – Led by H.I.G. Growth Partners and other strategic investors, ProsperOps secured a $72 million investment to accelerate growth and expand our product offerings, delivering more value to more customers. Case in point, consider the following two stats from last year:
    • Annual Compute Usage Under Management doubled from around $700M to over $1.4 billion, and
    • Lifetime Savings Generated increased by over 200% to more than $800 million in cloud savings returned to customers
  • February 2023 – ProsperOps was a founding partner member of the FinOps Foundation, and last year we became a Premier Partner, joining their Governing Board and participating in more special interest and user groups. The FinOps Foundation is a non-profit organization leading the charge in cloud financial management, building a vibrant community of cloud FinOps practitioners centered around best practices, education, and standards.
  • April 2023 – Our product and engineering teams released a new feature that maximizes cloud savings on cyclical workloads. Advanced Cyclical Optimization Support detects pattern volatility and automatically adapts to maximize the customer’s Effective Savings Rate (ESR) by covering above usage valleys, where total savings of additional commitment during usage peaks surpass the losses incurred from overcommitment through usage valleys.
  • June 2023 – ProsperOps surpassed $1 billion of AWS Compute Usage Under Management — an accomplishment more than five years in the making. Our co-founders recorded a podcast in July to discuss their journey of starting ProsperOps and introducing our unique approach to optimizing cloud costs with automation and AI.
  • August 2023 – One of the best things about working in FinOps is the people. Last year, we partnered with Jon Myer to start the Faces in FinOps Podcast, a weekly discussion dedicated to highlighting thought leaders, influencers, and practitioners working in cloud financial management. Tune in to hear what we’re talking about!
  • November 2023 – We extended autonomous discount management capabilities beyond compute services (e.g., EC2, Fargate, and Lambda) to other critical AWS services, including MemoryDB, OpenSearch, Redshift, RDS, and ElastiCache. Read more about the product announcement here.

These are just a handful of the highlights from our 2023 journey. We are grateful for the support of our customers, partners, and team members who helped us grow, and we look forward to sharing more big announcements in 2024.

ProsperOps at our H2 All-Hands Summit in Oct. 2023 on Lady Bird Lake in beautiful Austin, TX

We’re more excited than ever about the future of ProsperOps and automating cloud FinOps. We will continue to innovate and expand, helping businesses of all sizes achieve their cloud cost optimization goals.

Here are just a few of our priorities for the year ahead:

  • Expand autonomous discount management capabilities to more clouds and services
  • Develop and release new product features to help businesses understand and optimize their cloud costs
  • Lean into strategic partners, and continue to educate and empower businesses on the importance of automated cloud FinOps

Follow us on LinkedIn to stay in the loop.

Prosper on! 🖖

– Chris, Erik, and Chris

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