WA-based Archera announce $17 million Series B funding and new strategic financing and insurance relationships that will enable Archera to offer a wider array of commitment insurance products at lower costs for customers.
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Archera $17 million Series B round, led by Highsage Ventures with participation from our ongoing partners at Ridge Ventures, Amplify, and PSL Ventures. We are also establishing strategic relationships with new, innovative insurance partners, including Relm Insurance, which will allow to scale to over $100 million in reinsurance capacity, reducing the premiums customers pay for Insured Commitments and increasing the scope of services our insured and financed savings instruments can cover.
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“Our approach is fundamentally different: we give away free, state-of-the-art capabilities to automate native CSP cost optimization constructs like Savings Plans and RIs. The only place we want to make money is in providing new primitives, like our short-term Insured Commitments, and unlocking new savings strategies for customers by filling the gaps left by native offerings.” said Aran Khanna, Co-Founder and CEO
Archera is the first and only insurance-backed protection against unconsumed cloud commitments, helping organizations gain flexibility and control over public cloud rates so that they can focus on innovating faster.Archera offers customers a unique, free platform for automating cost optimization with native cloud commitment offerings, while enabling cloud cost and usage visibility and long-term forecasting.
About Archera
Founded in 2019 by brothers Aran Khanna (CEO) and Nikhil Khanna (CTO), Archera’s free management platform and unique commitment insurance and financing products bring flexibility, control, and automation to the process of buying public cloud resources, enabling you to reduce the risk of overcommitment while optimizing your costs.
