Multi-cloud management startup Cloudyn Ltd. said it has raised an $11 million Series B round of financing and plans to use the infusion to expand its U.S. presence.

The Tel Aviv, Israel-based firm is also looking to expand its support of private clouds through support of VMware Inc. and Microsoft Azure Private Cloud platforms. Currently, Cloudyn only supports OpenStack behind the corporate firewall.

The latest funding round was led by Carmel Ventures and comes on top of $5.5 million the company raised in earlier rounds. The company has several hundred paying customers and is monitoring more than 200,000 virtual machines and 12,000 concurrent applications, said Vittaly Tavor, co-founder and VP of product.

Cloudyn’s software-as-a-service engine monitors the performance and costs of major public, private and hybrid cloud platforms for corporations that are increasingly embracing multi-cloud strategies to give them flexibility and reliability. The use of multiple clouds presents complexity and chargeback issues that Cloudyn addresses. It taps into the APIs of public cloud providers and private cloud stacks to continuously monitor factors like utilization and performance. It can identify unused or under-used resources and recommend optimization tactics. The platform can also provide cost allocation metrics for chargeback of cloud expenses to specific users and business units.

Tavor said customers typically see immediate cost savings of between 15 percent and 30 percent. One common scenario is to find cloud instances that were spun up for short-term projects and never taken down. Organizations also often over-provision cloud resources by buying more capacity than they need – a tactic commonly used when buying on-premise hardware – and forgetting that cloud resources can be allocated dynamically. Cloudyn not only identifies such inefficiencies but can recommend optimal deployment scenarios for new projects, such as prepaid financing, which can slash costs by up to half.

In addition to beefing up hybrid cloud support, Cloudyn is also working on the next logical evolution of its platform, which is to enable customers to manage cloud resources dynamically and move workloads between platforms. The company currently provides this capability through a partnership with Scalr Inc.