YäRKEN, an artificial intelligence (AI) native information technology (IT) financial management (ITFM) platform for enterprise clients, has announced a fundraising round led by 1982 Ventures.

This funding will enable YäRKEN to further develop its AI capabilities and scale its customer base across North America,” YäRKEN said in a statement on Tuesday.

According to the statement, the funding will fuel Yarken’s next phase of growth.

Specifically, the company plans to aggressively expand its customer base across North America, further develop its AI capabilities and scale operational capacity to support this growth.

Building on the success of global SI partnerships. Yarken is also exploring more strategic partners with key industry players to broaden its market reach and further enhance its service offerings.

“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, Yarken Chief Executive Officer.

According to him, Yarken’s native AI can ingest and analyze data from any IT system, regardless of format.

This means whether you’re tracking cloud spending, software licenses, or hardware assets, the firm’s clients gain comprehensive, actionable cost insights months faster than their competitors.

He also said Yarken’s platform provides comprehensive audit trails and cost transparency, helping enterprises maintain compliance and enhance IT governance.

“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,” he added.

It is noted that the ITFM market is projected to grow at 12.7 percent per annum and hit $14 billion (according to Business Research Insights, forecast period 2025-2033).

This growth is driven by CIOs’ increasing need for solutions to effectively manage and forecast complex cloud and on-premises investments as well as managing software licenses and usage across multiple business units.

Yarken’s AI-native approach reduces implementation times, delivers average cost reductions of 15 percent to 25 percent, and significantly reduces ongoing maintenance hours by up to 50 percent.

“Many CIOs are faced with the competing mandates of reducing costs while continuing to invest in new systems,

“Yarken’s AI-native platform gives CIOs full visibility on their tech spend, with integrated forecasting and benchmarking that produce actionable insights, including rapid IT planning capabilities, allowing for proactive budget adjustments that the business can collaborate on. The solution pays for itself,

“Yarken 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, stated that the firm is excited to support founders like Ravi and Vaibhav, who have a proven track record of building and exiting successful enterprise software companies.

“Our investment in Yarken fits perfectly within our strategy of backing companies that are leveraging AI to transform financial services and enterprise operations. Yarken’s innovative approach to IT financial management, powered by native AI, is precisely the kind of disruption we believe will reshape the industry,” he added.

Yarken is a firm enables businesses to gain complete visibility into their IT spend, optimize costs, and make strategic decisions through AI-driven insights, forecasting, and benchmarking.

The firm’s platform simplifies ITFM, providing faster implementation, enterprise-grade scalability, and robust analytics.

The firm has been rapidly expanding in the United States and Canada.

Its US based Maryville Consulting, recognized for its expertise in technology business management, will now offer Yarken’s platform to its extensive portfolio of enterprise clients, giving them streamlined access to the analytics and cost management tools.

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