Today is a big day for us. ProsperOps has been acquired by Flexera to become part of building the dominant FinOps platform. As founders, we want to share a bit of our thinking behind the deal and what this means going forward.
When we founded ProsperOps in 2018, FinOps wasn’t even a defined concept. Various “1.0” cloud cost management tools existed, but they were largely visibility- and recommendation-based, which put the burden of execution on humans. We realized the cloud was only getting more complex and dynamic, and achieving consistent, world-class cost optimization outcomes required automation. That time period was also the early dawn of AI, which we knew would be transformative.
Fast forward eight years, and FinOps is as important as ever. The FinOps Foundation exists to advance the discipline of cloud financial management and has thousands of practitioner members. Driven by the complexity and scale of modern cloud usage, cost optimization is a top priority for almost every organization. And the immense potential of AI and agents is now being unleashed to deliver real-world outcomes. Against this backdrop, ProsperOps has become the leading AI-enabled FinOps automation platform, managing over $6 billion in annual cloud usage across AWS, Azure, and Google Cloud, and delivering over $3 billion in savings back to our customers.
As the FinOps market has matured, we see a few interesting dynamics:
- There are a tremendous number of FinOps point solutions in the market, and customers are increasingly looking to consolidate to more expansive platforms.
- We believe the winning FinOps platform will bring together the trifecta: automated rate optimization, automated workload optimization, and sophisticated cloud cost visibility and governance.
- The scope of FinOps is expanding to include all technology spend, not just cloud. The FinOps Foundation recently adjusted its mission statement, and many of our customers’ FinOps teams now have significantly broader remits.
Given these dynamics, the founders have been discussing how we leverage our leadership position to accelerate and play for a spot at the overall FinOps winners’ table. When the opportunity to join forces with Flexera presented itself, we realized this move would best position us to win. Flexera is a FinOps leader. In fact, they are the only company ranked as a leader in both the Cloud Financial Management Tools and SaaS Management Platforms Gartner Magic Quadrants, as well as the Forrester Wave for Software Asset Management (SAM) Solutions.
Flexera is committed to leading, not only in traditional categories where they have been strong, but in new, emerging areas of FinOps. As part of today’s announcement, Flexera has also acquired Chaos Genius, an autonomous, AI-enabled Snowflake and Databricks optimization platform. Flexera is increasingly well-positioned to win the broader FinOps space, and adding ProsperOps allows us to accelerate and play a key role in that journey. There is no doubt we are stronger together.
ProsperOps will continue to operate as a standalone brand and business (ProsperOps, a Flexera company) with our founding team fully intact. By design, the ProsperOps platform has always been tool-agnostic. That won’t change. You can continue to use ProsperOps to get world-class rate optimization outcomes alongside whatever other FinOps tools you’d like.
Over time, we will build deep, unique integrations into the Flexera platform that will provide incremental savings and optimization value. For example, customers who use both Flexera One Virtual Machine Optimization and ProsperOps will get intelligent, integrated spot instance and commitment-based discount automation that delivers even higher Effective Savings Rates. Historically, we’ve only measured spot instance savings; now, we will automate them. We will build a single AI-enabled “brain” that holistically automates FinOps outcomes across multiple optimization domains. That is incredibly powerful. We are pumped to go bigger, generate more autonomous cloud savings, and do our part in helping customers prosper even more.
We are immensely grateful to our amazing customers and Prospernauts who made this milestone possible. We have some great things planned, so stay tuned. The journey continues!
Prosper on! 🖖
– Chris, Erik, and Chris
