This strategic partnership makes Kion’s cloud computing software a part of Booz Allen Hamilton’s complete managed services solution package whenever clients hire the consulting firm to think out, build and design cloud architecture solutions. Recent data from Synergy Research Group showed that in Q2 of 2022, businesses around the world spent nearly $55 billion on cloud infrastructure services. This new partnership allows Kion to get a bigger share of that market through Booz Allen Hamilton.
Brian Price, CEO of Kion, described the company’s cloud computing software as an “easy button” for the implementation of cloud environments like Amazon Web Services, Azure and Google. The software automates security and compliance, as well as helps manage both the cost of scale in cloud environments and the setup and provisioning of cloud accounts.
Even as the labor market slows down in preparation for a recession, with the consistent growth seen in the cloud markets, Price intends to continue growing Kion from around 60 employees to 65 or 70.
“Late 2020 or into 2021, it was really kind of almost an unprecedented time where organizations were raising a ton of money,” Price told Technical.ly. “I think long [gone] are the days of 20-30-times [annual recurring revenue] that were getting thrown out.”
Kion raised a $9.5 Million Series A in fall of 2021, when it was known as cloudtamer.io. The company has always been conservative about its approach to raising money, with only $11.5 million raised since its founding in 2018. Price’s advice for other entrepreneurs in this market, where valuations have been compressed, is to keep your head down and focus on building your business.
“Really examine your spending dollars. Invest in partnerships like we’re doing that we feel are going to build and multiply market traction,” Price said. “If you’re in a good market, continue to live on that. At the end of the day, I think everything will level out the water in the market over the course of the next 12 to 18 months.”
Donte Kirby is a 2020-2022 corps member for Report for America, an initiative of The Groundtruth Project that pairs young journalists with local newsrooms. This position is supported by the Robert W. Deutsch Foundation.-30-