#United States #Austin, Texas #Snowhawk #Flexera #ProsperOps

Snowhawk Sells ProsperOps to Flexera

Snowhawk, an investment firm dedicated to advancing cloud and digital infrastructure, has recently announced a significant move by selling its portfolio company, ProsperOps, Inc., to Flexera. This acquisition marks a pivotal shift in the landscape of cloud cost management solutions as ProsperOps continues to assert itself as a leading platform aiming at optimizing cloud expenditures.

Founded in 2018 and based in Austin, Texas, ProsperOps specializes in FinOps automation. The platform provides advanced cloud cost management across major cloud services including Amazon Web Services (AWS), Google Cloud Platform, and Microsoft Azure. With a management of approximately $6 billion in annual cloud spending for its clients, ProsperOps effectively helps large enterprises minimize waste and enhance the efficiency of their cloud operations.

The deal comes after an impactful investment from Snowhawk in December 2022, during which ProsperOps experienced substantial growth, including a six-fold increase in annual recurring revenue. This rapid expansion has allowed ProsperOps to not only solidify its position within the field but also to broaden its offering and reach a more extensive global audience.

Sara Baack, Founding Partner at Snowhawk, expressed her excitement regarding the partnership with ProsperOps. She noted that the company's innovative approach tackles one of the profound challenges enterprises face while managing cloud systems. Baack stated, “Working together with this visionary team highlighted our intent of helping ProsperOps amplify its platform and elevate its enterprise presence. This success serves as a testament to our collaborative efforts.”

Brian McMullen, Managing Partner at Snowhawk, echoed her sentiments by emphasizing the importance of working closely with founders to realize the potential within promising businesses. He is proud of the accomplishments achieved during their collaboration and looks forward to seeing ProsperOps flourish under Flexera.

Chris Cochran, CEO and Co-Founder of ProsperOps, credited Snowhawk for their invaluable support during critical growth phases. He noted that their commitment to ProsperOps' vision and active involvement were key to the company’s scaling journey and continued customer value delivery. As ProsperOps embarks on this new chapter with Flexera, Cochran is optimistic about future growth opportunities resulting from their collaboration.

In the competitive realm of cloud management solutions, ProsperOps stands out as a critical player. Its platform addresses the complexities of financial commitments that accompany dynamic cloud usage by offering autonomous management strategies that synchronize with real-time workload alterations. This has allowed the company to generate over $3 billion in savings for its customers, thus achieving not only operational cost reductions but also enhancing flexibility by minimizing commitment risks.

Flexera, known for its expertise in technology spend and risk assessment, is expected to harness ProsperOps’ innovative capabilities to enhance its cloud management offerings. This acquisition aligns with Flexera’s goal of providing comprehensive solutions that aid enterprises in managing their cloud costs with increased intelligence and agility.

For Snowhawk, this transaction marks a successful exit from an investment that has significantly transformed into a market leader in its sector. As the digital economy continues to evolve, the journey of both ProsperOps and Flexera will provide insights into how investments in technology can drive efficiencies and reshape corporate financial strategies. Together, they represent a powerful combination that is set to redefine how enterprises manage and optimize their cloud expenditures moving forward.

For more details on Snowhawk, ProsperOps, and Flexera, please visit their respective websites for the latest updates on their endeavors in the technology sector.