binarypublishCloud startups offering observability, GenAI assistance, and a cloud experience on-premises are among the companies to watch in 2024. Despite the dominance of major players like Amazon Web Services and Microsoft in the cloud space, there is still room for upstart companies to make a name for themselves due to the growing need for cloud technology by businesses and organizations. In November, Gartner forecasted that worldwide end-user spending on public cloud services will total $679 billion in 2024 and hit $1 trillion in 2027. Here are 10 cloud startups to keep an eye on:
- VirtualZ: Offers technology that moves data between IBM Z mainframe servers and cloud or on-premises applications.
- Botco.ai: Provides generative artificial intelligence products that improve sales and marketing initiatives.
- Render: Offers a unified cloud for building and running applications and websites.
- Chronosphere: Provides a cloud-native observability platform that helps engineering teams manage data growth and cloud-native complexity.
- Wiz: Enables customers to build quickly in the cloud while ensuring security and collaboration between developers.
- Ternary: Offers a multi-cloud spend management platform for enterprises and MSPs.
- Env0: Provides infrastructure-as-code automation and management tools.
- MotherDuck: Combines cloud and embedded database technology to make data analysis easier for businesses of all sizes.
- Together AI: Offers a cloud platform for building and running GenAI with support from various AI cloud partners.
- Oxide Computer Co.: Unveiled a commercial cloud computer system for on-premises cloud computing.
These startups have attracted attention and funding in their respective areas, positioning themselves to make an impact in the cloud industry in the coming years. For example, VirtualZ recently secured $2.2 million in seed funding and focuses on moving data between legacy mainframe systems and the cloud. Botco.ai received a grant from Google as part of its Latino Founder Fund and offers generative AI products for sales and marketing purposes. Meanwhile, Chronosphere raised $115 million in funding to develop its cloud-native observability platform, and Wiz achieved a valuation of $10 billion, providing cloud security solutions and compliance automation. Ternary attracted $12 million in funding and helps businesses manage multi-cloud spending. Env0’s infrastructure-as-code automation tools helped raise $35 million in funding, and MotherDuck secured $52.5 million to provide cloud analytics for all data sizes. Together AI, which offers a cloud platform for GenAI, raised a significant $102.5 million in funding and plans to scale its AI integration services. Finally, Oxide Computer Co. raised $44 million to accelerate production of its commercial cloud computer system for on-premises environments.
These startups show the diverse range of cloud solutions emerging in the market, addressing various needs such as data migration, AI assistance, infrastructure-as-code automation, and cloud analytics. As the demand for cloud technology continues to grow, these startups have the potential to disrupt the market and establish themselves as key players in the industry.
