ParkMyCloud Raises $1.65M to Grow Cloud Cost Optimization Platform - ParkMyCloud

ParkMyCloud Raises $1.65M to Grow Cloud Cost Optimization Platform

SaaS application eliminates wasted cloud spending and provides 1700% ROI to AWS customers of all sizes

ParkMyCloud is a simple, single-purpose SaaS tool that enables users to automatically schedule on/off times for their idle non-production cloud computing servers, so they pay only for the time they actually use and avoid wasted spending.

“Companies are spending billions of dollars a year on 24×7 servers, when many of those resources are idle much of the time,” said Jay Chapel, ParkMyCloud CEO and Co-Founder. “ParkMyCloud customers can ‘park’ or pause non-production servers such as development, staging, testing and QA when they aren’t needed, saving companies up to 60% on their AWS bills.”

ParkMyCloud’s current customers – which include McDonald’s, Sage Software, Avid and Wolters Kluwer – have saved a total of nearly $800,000 on their AWS bills so far, with an average ROI of 1700%. This funding round enables ParkMyCloud to bring savings to more of AWS’s one million customers.

“We have been searching for a company to back in the fast-growing cloud computing space,” said David Gardner, General Partner of Cofounders Capital. “ParkMyCloud checked all of our criteria, which included a comprehensive yet cost-effective technology, experienced management team and demonstrable return-on-investment for customers.”

ParkMyCloud plans to add support for additional cloud service providers, including Microsoft Azure and Google Compute Engine, later this year.

ParkMyCloud was founded in July of 2015, released the first version of the product on September 8, 2015, and secured its first customer by the end of that month. ParkMyCloud’s launch and initial growth was made possible by an initial angel investment from Virginia-based White Hall Capital.

About ParkMyCloud
ParkMyCloud is a simple, single-purpose SaaS tool that enables users to automatically schedule on/off times for their idle non-production cloud computing servers (also known as “parking”), so they pay only for the time they actually use and avoid wasted spending. Customers, which include McDonald’s, Sage Software, Neustar, Avid, Wolters Kluwer and ZestFinance, save 60% or more on non-production spend. For more information, visit http://www.parkmycloud.com.


About Katy Stalcup

Katy Stalcup is the Marketing Manager for ParkMyCloud, where she’s responsible for a wide variety of content development, campaigns, and events. Since ParkMyCloud’s founding, she’s evangelized its message of simple cost savings and automation (seriously, in the words of one of our customers, “There is literally no reason not to use ParkMyCloud”). Katy is a Northern Virginia native who is happy to contribute to the region’s growing reputation as an East Coast gathering point for technology innovation – particularly as a graduate of the Alexandria, VA Thomas Jefferson High School for Science and Technology. She also earned bachelor’s degrees in communication and psychology from Virginia Tech. In her free time, she enjoys reading novels, playing strategy board games, and travel both near and far.

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