Yärken, an AI-powered financial management platform for businesses, has announced a fundraising round led by 1982 Ventures.
Yärken said on Tuesday that this funding will help them improve their AI technology and expand their customer base in North America.
The statement says that the funding will drive Yärken’s next growth phase.
The company plans to quickly grow its customer base in North America, improve its AI technology, and expand its operations to support this growth.
Following the success of its global partnerships, Yärken is also looking for more strategic partners in key industries to expand its market presence and improve its services.
“Our years delivering software to large global enterprises showed us Chief Investment Officers (CIOs) are struggling to manage sprawling IT infrastructure costs with legacy solutions and spreadsheets that are inflexible, slow to deploy, and expensive to maintain. We knew how to solve this by leveraging AI,” said Ravi Kuppan, Yärken’s Chief Executive Officer.
According to him, Yärken’s AI can take and analyze data from any IT system, no matter the format.
This means that whether you’re tracking cloud costs, software licenses, or hardware, the company’s clients get detailed, useful cost information months ahead of their competitors.
He also said that Yärken’s platform gives complete audit records and precise cost details, helping businesses stay compliant and improve IT management.
“We’re just getting started. This investment enables us to deliver even more value to our customers and partners as we redefine how enterprises manage IT spend,”
According to Business Research Insights, the ITFM market is expected to grow by 12.7% annually and reach $14 billion from 2025 to 2033.
This growth is driven by CIOs needing better solutions to manage and predict cloud and on-premises investments and handling software licenses and usage across different parts of the business.
Yärken’s AI-based approach cuts down implementation time, helps reduce costs by 15% to 25%, and lowers ongoing maintenance hours by up to 50%.
“Many CIOs have the challenge of cutting costs while still needing to invest in new systems.”
“Yärken’s AI-native platform gives CIOs complete visibility on their tech spend, with integrated forecasting and benchmarking that produce actionable insights, including rapid IT planning capabilities, allowing for proactive budget adjustments on which the business can collaborate. The solution pays for itself,
“Yärken is the only platform that integrates all areas of IT financial management and cloud operations with native AI, allowing enterprise clients to achieve faster time to value,” said James Kim, Operating Partner of 1982 Ventures and former Managing Director at Accenture.
Scott Krivokopich, Founding Managing Partner at 1982 Ventures, said the firm is excited to support founders like Ravi and Vaibhav, who have a strong history of building and successfully selling enterprise software companies.
“Our investment in Yärken fits perfectly within our strategy of backing companies leveraging AI to transform financial services and enterprise operations. Yärken’s innovative approach to IT financial management, powered by native AI, is precisely the kind of disruption we believe will reshape the industry,”
Yärken is a company that helps businesses see all their IT spending, reduce costs, and make smart decisions using AI-driven insights, forecasts, and comparisons.
The platform makes ITFM easier by offering a quicker setup, the ability to scale for large businesses, and strong analytics.
The company has been growing quickly in the United States and Canada.
Maryville Consulting, based in the US and known for its expertise in technology business management, will now provide Yärken’s platform to its large group of enterprise clients. This will give them easy access to analytics and cost management tools.
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