VNG Funds CloudVerse

HO CHI MINH CITY, Vietnam, Jan. 12, 2023 /PRNewswire/

CloudVerse is a cloud innovation powered by VNG. CloudVerse platform for multicloud cost management reshapes the journey for cloud adoption with capabilities to surface spending patterns and savings opportunities.

Unique business requirements and modern software development mindsets have turned businesses to multicloud strategies, or, in other words, allocating cloud assets across multiple providers. As expected, managing governance, controlling costs, ensuring security and effectively handling data have proven to be pressing pains. 

Leveraging machine learning algorithms, CloudVerse brings visibility to cost data and transcribes it into optimization recommendations. Being the first multicloud cloud financial management solution in Vietnam, the platform is cloud-ready with major IaaS and PaaS service providers (CSP): Amazon Web Services, Google Cloud Platform, Microsoft Azure, Alibaba Cloud, Tencent Cloud, Huawei Cloud and Digital Ocean.

The scalable nature of cloud services requires all consumption to be monitored and forecasted, yet still paces innovation development. CloudVerse dashboard compartmentalizes core cost KPIs into dimensions to answer questions such as:

• Which project/cloud/asset is the team spending the most on?
• What are the encountered anomalies? How do we expect these in the future?
• What’s the spending and usage patterns? What’s the reasonable budget and thresholds to set for a project/cloud/asset?

For IT engineers, CloudVerse trims off additional efforts for cost reporting and implementing governance policies. Ad-hoc reports could be put together in a matter of minutes regardless of the level of granularity. As well as that, Finance members would have a flatter learning curve to digest technical cloud terminologies and how they’re billed. 

Data confidentiality is critical when working with infrastructure, financial and operation data. CloudVerse latest ISO 27001 certification aims to deliver peace of mind and instill customer confidence in storing data on the platform.

Chand Deshwal, Founder and CEO of CloudVerse shared: "Businesses in the digital economy are investing significantly in cloud services from multiple providers. CloudVerse, developed by a team of global engineers from Vietnam, India, and Singapore, will be the go-to management platform that helps businesses save costs, improve security and maximise productivity while improving the user experience. We aim to become the 'metacloud' or 'supercloud' (cloud of clouds) to connect businesses with cloud service providers on a smart, efficient management platform".

According to Gartner, the market prospect for cloud services is expected to exceed 1 trillion USD. Besides developing cloud computing technology to stay ahead of the trend, VNG's investment in Cloudverse will be the foundation for developing networks with major cloud service providers globally and creating a centralised platform for businesses to manage their resources and optimise costs.

Besides the Vietnamese market, CloudVerse also targets Singapore, Indonesia, Thailand and India. "Our vision in the next three to five years is to become a global cloud technology company," Chand added.

Source: PR Newswire