New Delhi: CloudVerse, a VNG-backed, multi-cloud finops SaaS platform announced its intent to grow in the fast-growing Indian public cloud services market. It also announced the appointment of Manoj Chugh, a well-known IT industry leader to its Board of Advisers.
The Indian Cloud market is expected to grow at a CAGR of 23% to more than $13 billion by 2026 according to IDC.
According to estimates by Gartner, organisations could end up overspending by 70% on cloud services without a cost optimization strategy & tools in place. Organisations need tools to continuously monitor their consumption and make adjustments to, leverage the variable cost model of the cloud.
CloudVerse addresses this problem by providing a centralised platform for multi-cloud resource management. CloudVerse platform provides tools to manage cost allocation, usage and cost monitoring and making cost optimization recommendations. It has integrated with most large public service providers including Amazon Web Services (AWS), Microsoft Azure (AZURE) and Google Cloud Platform (GCP) amongst others.
India with a fast-expanding cloud market provides CloudVerse with an opportunity to enter this market after establishing its presence across Asia.
Manoj Chugh’s experience as President of Enterprise Business, Tech Mahindra, where he led their business across 70 global markets and prior to that as the leader of Global Accounts for APJ with EMC, amongst others would help fast track the growth of the company.
“Over spending and waste in cloud consumption is an increasingly challenging problem for organisations. As the cloud spend continues to grow, we aim to provide organisations with cloud cost and resource optimization tools to eliminate the waste, at a time when enterprises will look to manage costs in a slowing economy,” said Chand Deshwal, Founder and CEO of CloudVerse.AI
“I am excited that we will have the benefit of Manoj’s experience on our Board of advisors to help chart out our growth strategy,” added Deshwal.
“I am excited to join on the board of advisors for CloudVerse. Chand and his team have an excellent solution for addressing the pain points of CIO’s working in a multicloud environment. I look forward to working with them on their expansion plans,” added Manoj Chugh.