Mavvrik, a unified platform for IT financial control, has announced its rebranding from DigitalEx and attained a $6.2 million seed funding round to boost its go-to-market expansion and product innovation. This will help enterprises gain complete financial control of their IT infrastructure.
Mavvrik launches new brand with additional funding and leadership appointments
S3 Ventures and Flyover Capital are leading the funding round, which also includes participation from Tuesday Capital, ClutchVC, Amplify, LA, and Knoll Ventures.
Additionally, Mavvrik is expanding its leadership team, and appointing Paul Franz as VP of sales, Chris Paap as VP of product management, and Lindsey Tishgart as VP of marketing.
The newly rebranded Mavvrik will serve as “a single source of truth” for cloud, AI, on-prem, and SaaS, ensuring enterprises can do the following:
- Gain full cost visibility across cloud, AI, on-prem, and SaaS ecosystems
- Automate cost allocation and chargebacks to hold teams financially accountable
- Set budget guardrails and anomaly detection to prevent cost overruns
- Optimize AI and GPU spend with per-model tracking and forecasting
- Track Cost-to-Serve at the customer, product, and feature level to maximize profitability
“Infrastructure costs are no longer just an IT problem– they’re now a financial risk,” said Sundeep Goel, CEO of Mavvrik. “Companies are investing heavily in AI, cloud, and SaaS without knowing where the money is going or how to control it. Mavvrik delivers the financial visibility and automation CFOs and FinOps teams need to eliminate waste, enforce accountability, and turn IT costs into strategic investments.”
Mavvrik aims to deliver proactive financial automation, chargebacks, and governance that allow enterprises to fully control their IT budgets.
Further, Mavvrik tracks and manages costs across public cloud providers, private cloud environments, AI workloads, and SaaS ecosystems.
“AI, multi-cloud, and SaaS sprawl have turned IT spending into a black box, making cost governance nearly impossible– until now,” said Eric Engineer, Partner at S3 Ventures. “Mavvrik is transforming IT cost chaos into financial discipline– bringing real-time transparency, unit economics, and predictive budget controls to the fastest-growing areas of IT spend. This is the end of reactive cost management. We’re thrilled to partner with Mavvrik to deliver financial governance that’s proactive, automated, and built for the scale of modern IT.”
The automated chargebacks and unit-level cost tracking allow enterprises to clearly see trust costs per customer, feature, and AI model. This makes it easier to enforce accountability across teams and business units and prevents cost spikes before they occur.
LLM cost management for AI & cloud savings
Before the organization’s rebranding, Mavvrik introduced a new offering meant to optimize LLM-related expenses and track the future of cloud spend.
The LLM Cost Management Solution, unveiled by Mavvrik—then DigitalEx—provides a comprehensive approach to understanding, controlling, and optimizing LLM-related expenses.
The updated solution offers significant benefits to users and partners alike, and extends beyond enhancing cost visibility with its centralized view of LLM costs from multiple vendors.
“From an MSP perspective, their customers have this double wave of cost hitting them and they need some way to help their customers not waste money knowing that anywhere from 30 to 35 percent of cloud spend today is literally waste,” Goel told Channel Insider at the time. “There’s value for all parties, and it only works if there’s value for all parties, right? What’s key to this is that it needs to be a win for the MSP and a win for the customer. The value is different, but there’s value for all parties.”
Further technology adoption is fueling growth, but organizations must also manage platforms throughout their lifecycles to leverage data effectively. Read more about The Modern Data Company’s recent strategic partnership with Acies Global to assist with tech adoption.