Bellevue-based Archera, a cloud cost management startup, has raised $12.1 million. It disclosed the funding in a June 4 filing with the Securities and Exchange Commission.
Archera in 2021 rebranded from Reserved.ai, the legal name the company uses in the regulatory filing. The filing noted the funding was in the form of equity funding and other securities.
Neither the company nor co-founder and CEO Aran Khanna responded to messages seeking comment.
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Archera was founded in 2019. The company's software helps clients save on cloud costs. Archera also helps clients with forecasting and benchmarking, and it offers a buyback program if clients purchase too much cloud storage. The company raised a $7 million Series A round in 2021.
"The difficulty in the cloud is just the tribal knowledge that's inherent in how you use it," Khanna told the Business Journal at the time of the Series A round. "Customers, they don't want to get a Ph.D. in cloud pricing."
Archera's clients include Hiya and Fortive. The company had 18 employees at the time of its 2021 raise, of which about 40% were based in the Seattle area, according to Khanna. It has 27 employees listed on LinkedIn now. Archera has open roles listed for a chief technology office and a company coordinator.
The company says it has saved clients more than $80 million in cloud costs and managed more than 1 million cloud transactions. Khanna spent more than a year at Amazon Web Services earlier in his career, according to his LinkedIn page.
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