A maverick is an unorthodox individual. One who does not tread the same path others have laid for them. A maverick blazes their own trail, brings independent thinking, and isn’t afraid to stand separate from the crowd.
That’s the new persona that the unified financial control platform for modern IT, Mavvrik, wants to embody. Formerly DigitalEx, the organization has rebranded itself to reflect a new direction driven by a recent, significant funding infusion and a desire to innovate in technology cost management.
Accompanying the news of this rebrand is a $6.2 million seed funding round that Mavvrik received to boost its go-to-market expansion and product innovation, helping customers gain complete financial control of their IT infrastructure.
New name, new mindset
This new direction is further exemplified by the company’s CEO Sundeep Goel, who sat down with Channel Insider to discuss how Mavvrik’s new strategy is poised to take the organization to the next level.
“With the new funding, it’s allowing us to fundamentally change direction in terms of where we’re going from a product perspective and so we thought it was the right time to rebrand,” Goel said. “Fundamentally, we like the idea of a maverick, somebody that is thinking about things differently. Over the last 10-20 years, technology spend has spiraled out of control. We think there’s a different approach to this problem that needs to be instituted.”
According to Gartner research, worldwide IT spending is expected to increase by 9.8 percent from 2024 to 2025, ballooning to $5.61 trillion in 2025. That enormous dollar amount has companies in all corners of the IT space reconsidering where their money is most efficiently spent—or at least where it should be.
Not only does the rebrand reflect the mentality that Mavvrik wants to embody, but it also comes with the understanding that the organization’s customers are mavericks in their own right.
“They’re looking to do things completely differently, right? Hold business units accountable for their spend. Be inclusive of all technology spend, not just cloud, on-prem, AI, or SaaS,” said Goel. “They’re looking for that level of change and so we thought Mavvrik captured the spirit of our customers as well.”
The tragedy of the (IT spend) commons
A customer reminded Goel of this concept, which refers to the situation in which if many people enjoy unfettered access to a finite, valuable resource, they will tend to overuse it and may destroy its value altogether. For example, a public park is a resource that everybody can utilize. Still, if nobody is accountable for it, the park gets dirty over time, people litter, and its value and use diminish.
“We have the Tragedy of the Commons problem where all the IT spend gets centralized with it, but it gets consumed by the various business units of an enterprise and nobody is accountable for their spend,” said Goel. “Consequently, spend goes up and up and there’s no incentive for the business units to care.”
Goel mentioned that one large financial services company has 27 business units and a hefty amount of spend. The company was utilizing Mavvrik as a cost allocation tool to map technology spend to each of those business units, set a budget at a business unit level that can be measured monthly, and hold business unit leaders responsible for performance, thus giving them a financial incentive or financial penalty to care about hitting their number.
Benefits of managing spend with Mavvrik
The features that Mavvrik offers its customers, including budgeting, guardrails, anomaly detection, and optimizing AI and GPU spending, provide tremendous benefits for organizations and prevent unexpected cost overruns.
The organization’s cost allocation framework, budgeting, forecasting, and unit economics are at the center of Mavvrik’s value proposition.
“You might have a set of technology costs that are shared across business units, but it’s shared in non-linear ways where you need to split those costs up in sophisticated ways,” said Goel. “The more complicated the math, the more we shine.”
The result of what Mavvrik does with their signature features is assigning the right cost to the right entity, setting a budget, measuring anomalies against that budget, and setting up alerts against that budget so organizations can hold people accountable. The secret sauce, Goel says, is creating visibility at a business unit level, department level, geography level, or however the company’s organized.
Trailblazing into the future
In the future, Mavvrik emphasizes applying financial governance best practices to technology, marrying the worlds of an organization’s IT and financial teams.
Further, businesses must have cost visibility which can’t be independently viewed from a cloud, data center, SaaS, or AI perspective. Goel says those views have to be tied together and the more comprehensive it’s made, the more value the company drives.
“That’s what you’re going to see us do with some of our seed funding– expand the breadth of our product to encompass as much technology spend as possible,” Goel mentioned.
Going forward, Mavvrik also wants to explore AI and SaaS further, as it has some very large customers with AI cost management needs.
“SaaS is an area that’s relatively new and we didn’t support SaaS, but now we do,” said Goel. “But there’s still a lot of work to do. We support Databricks and MongoDB today, but we want to add NetSuite, Workday, Salesforce, and a variety of SaaS systems.”
If you’re an enterprise company, you likely have a lot of spending, which has grown much faster than inflation over the last decade. Mavvrik is positioned to help keep costs under control with unified tech spend management and to help with spending as agentic AI grows.
“As agentic AI grows, the spend on it is going to grow quicker than anything else that we’ve seen– quicker than web and quicker than cloud– so as that happens, people are going to have major cost overruns,” said Goel. “We really think we’re uniquely positioned to support that use case.”
With a new name and a new direction, Mavvrik is standing out when it comes to keeping IT costs under control in a world where technology spending shows zero signs of slowing down. Armed with a new mindset, new executive team, and infusion of funding, Mavvrik aims to grow 500 percent in 2025, potentially quadrupling in size, while planning to expand its product offerings to include AI, SaaS, and other technologies.
“The funding that we raised should give us two years of runway and, in those two years, we think the company is going to be 15x bigger by the end,” said Goel. “We’ll be at a scale that will allow us to continue to grow and really become mainstream, not a niche startup company, but really be part of the fabric of people looking for technology cost management solutions.”
Increased technology adoption is fueling growth and a need for complete lifecycle management of platforms to allow organizations to effectively leverage data. Read more about The Modern Data Company’s recent strategic partnership with Acies Global to assist with IT adoption.