North.cloud Raises $60M to Expand AI Spend Management

North.cloud has secured $60 million in Series B funding to expand its financial operating system designed for cloud, AI, and data. The investment round was led by Peak Span Capital and included participation from Liquidity Ventures, Companyon Ventures, Alpaca, Uncommon Denominator, Gaingels, and Mana Ventures. The funds will be primarily used for product development and the addition of new integrations.

North.cloud's solution enables businesses to cut infrastructure costs across leading cloud platforms such as Microsoft Azure, Google Cloud, and AWS, as well as modern data platforms.

The company's AI capabilities aim to streamline management of cloud infrastructure, model providers, and data services by automating financial processes. North.cloud has already helped customers save over $400 million across nearly $2 billion in managed cloud spending. Its clients range from startups like AssemblyAI, Atlan, Tines, SnapLogic, Emplifi, and Imply to larger technology firms.

One of North.cloud's key features is its ability to provide a unified view of infrastructure economics, helping finance and engineering teams identify wasteful spending, manage cloud commitments, and optimize computing value. The company has recently launched North v3, which now supports Microsoft Azure, and introduced integrations with OpenAI, Anthropic, and Snowflake. Additionally, North has expanded its Autobot, an automated commitment laddering engine.

Following the funding round, North.cloud plans to reinvest in enhancing integrations, boosting automated optimisation, and developing new tools to manage AI spend. The company aims to automate more aspects of the infrastructure spend lifecycle, enabling businesses to focus on innovation without incurring costly inefficiencies. With a 98.8% retention rate and over $400 million saved for its customers, North.cloud is well-positioned to address the growing challenges in managing AI-related infrastructure costs.