Seed funding to help organizations optimize their data warehouse costs
— Preeti Shrimal, Co-founder and CEO of Chaos Genius
PALO ALTO, CALIFORNIA, UNITED STATES, January 3, 2023 /EINPresswire.com/ — Chaos Genius, the DataOps observability platform, has raised $3.3M in seed funding led by Elevation Capital with the participation of Y Combinator and angel investors, including Charles Zedlewski, former General Manager at Cloudera, Holly Liu, former co-founder of Kabam, and Sumon Sadhu, among others.
Data teams today rely heavily on third-party data warehouses, such as Snowflake. Because of the cost structures of these services, not optimizing their use can lead to painful costs.
Chaos Genius takes the burden of data costs optimization off of data teams starting with Snowflake. The platform uses query patterns to analyze Snowflake workloads with millions of queries to spot inefficient queries and provides intelligent recommendations that significantly improve performance. As a result, Chaos Genius provides instant visibility into an organization’s Snowflake footprint.
“Given the economic downturn, companies, like never before, are pushing to make cutbacks, especially when it concerns imprudent expenses,” says Preeti Shrimal, Co-founder and CEO of Chaos Genius. “With a unique set of features, like analyzing query patterns, finding unused data and intelligent recommendations, our product makes a massive impact on how data teams use their warehouses and saves up to 30% in data costs for our customers,” adds Shrimal.
The latest reports clearly demonstrate the need for businesses to address the data cost issue in the current economic environment. According to a McKinsey report, organizations have a savings potential of 15-35% in data spend through optimization of data sourcing, infra, governance and consumption. Additionally, a recent Gartner survey reveals that the primary complaint from buyers of cloud data management solutions is the lack of predictable costs and pricing transparency. Gartner suggests implementing more efficient Augmented FinOps (financial operations) measures that would provide full observability to data management with intelligent recommendations and optimization methods. With its intelligent recommendations system, Chaos Genius is well positioned to help companies better manage their data costs.
Chaos Genius plans to use funds to launch the product for the general public and expand its offering to other data warehouses and data lakehouses, such as Databricks, BigQuery, and Redshift.
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