Published on 08, Sep 2023

Pump.co Helps Companies Save 60% on AWS Through Groupon-Style Model

Modern problems require modern solutions. Globally, tech companies spend around $600B USD on cloud operations, and this cost can severely hinder start-up companies. This is a cost that founder Spandana Nakka has felt personally. At her previous startup, they were blindsided by a $800k bill and were completely stunned by the amount. As she retraced her steps to figure out what happened, she realized how quickly cloud spend could spiral out of control. Though she managed to resolve the issue, this sent her on a quest to create a new solution to help spare other start-ups the same fate.

This is where Pump.co has set itself apart with a free-to-use, AI-powered solution that instantly saves clients money up to 60% on their cloud spend. AWS typically requires a 1- or 3-year commitment contract to claim discounts, but Pump has been able to break those commitments into smaller monthly chunks and transfer commitments from one customer to another easily through its group buying model, solving what is essentially a space optimization problem. Pump’s next-gen AWS savings platform uses proprietary AI to forecast a client’s cloud spend based on individual historic data. But its “Groupon-style” business model is its greatest draw.

Where Pump emulates Groupon is through its group buying feature, which offers additional savings through group and collective spend billing discounts at scale. The platform will then dynamically buy and sell savings commitments in real time to adapt to the size of a client’s environment as well as any possible traffic spikes to ensure that they’re getting the best savings possible.

Pump offers savings on 12 different AWS services including EC2, RDS, ECS, and more and the highest levels of security. Customers can rest assured that Pump only has access to the minimal amount of read-only permissions needed to operate. The platform doesn’t have access to a client’s code, consumer data, or network traffic, which means that Pump remains lightweight and deploys quickly.

CEO and founder of Pump.co, Spandana Nakka comments, “By combining AI automated savings and an intuitive user experience, Pump is democratizing AWS cost savings that historically only the very largest companies have had access to.”

The platform launched with over 100 customers, who have saved over $3M to date. Though the company is currently partnered with AWS, Pump is hoping to expand to other cloud platforms and deliver to-scale solutions for a broader variety of clients.

ABOUT PUMP.CO

Pump.co, founded by Spandana Nakka, is an AI-powered FinOps platform designed to help businesses save up to 60% on their AWS operations. The company is YC-backed and was featured on Forbes AI 50, America’s 50 most promising companies in AI, in 2021. With real-time cost visibility, automated optimization, and continuous monitoring, Pump empowers organizations to achieve cost efficiency and maximize their AWS investment.

Visit the company’s website to learn more about their dedication to help small businesses save big.