About MagicOrange

MagicOrange provides an IT financial management platform that delivers precise cost visibility and accountability through detailed cost allocations and budget tracking. This solution addresses the challenge of hidden IT expenses, enabling organizations to optimize their technology investments and enhance overall financial performance.

```xml <problem> Many organizations struggle with a lack of visibility into IT expenses, leading to difficulties in optimizing technology investments and ensuring financial accountability. Hidden IT costs and scattered data undermine IT leadership, impacting stakeholder relationships and hindering effective decision-making. </problem> <solution> MagicOrange provides an IT financial management (ITFM) and FinOps platform that delivers transparency into IT expenses and cost drivers. The platform enables organizations to optimize IT spending across on-premises, hybrid, and cloud environments by integrating financial management with IT operations. Through detailed cost allocations, budget tracking, and financial analysis, MagicOrange aligns technology investments with business goals. The platform offers features such as flexible cost modeling, cloud cost management, budgeting and forecasting, and powerful reporting to provide a clear bill of IT and drive profitability. </solution> <features> - Flexible cost modeling to segregate costs and generate dashboards for cost transparency across the business - Cloud cost management to optimize IT spend across on-premises, hybrid, and cloud environments - Budgeting and forecasting tools to streamline budgeting and enhance cost transparency - Showback and chargeback automation for real-time visibility and optimized cost recovery - Integration with Microsoft Power BI for self-service analytics - Scenario modeling to assess multiple scenarios, including different budgets, actuals, and forecast data - Product and service catalog creation - Operational driver identification and mapping to support cost allocations </features> <target_audience> MagicOrange primarily targets ITFM practitioners, FinOps practitioners, CIOs, CFOs, and CTOs seeking to optimize IT costs, enhance financial visibility, and align technology investments with business objectives. </target_audience> ```

What does MagicOrange do?

Where is MagicOrange located?

MagicOrange is based in London, United Kingdom.

When was MagicOrange founded?

MagicOrange was founded in 2014.

How much funding has MagicOrange raised?

MagicOrange has raised 7500000.

Location

London, United Kingdom

Founded

2014

Funding

7500000

Employees

84 employees

Major Investors

6 Degrees Capital, Octopus Ventures

Find Investable Startups and Competitors

Search thousands of startups using natural language

AI voice (2021+)underground pipe robots energy flexibility software

Start Searching

MagicOrange

⚠️ AI-generated overview based on web search data – may contain errors, please verify information yourself! You can claim this account with your email domain to make edits.

Executive Summary

magicorange.com 2K+

Crunchbase

Founded 2014 – London, United Kingdom

Funding

Estimated Funding

$5M+

Major Investors

6 Degrees Capital, Octopus Ventures

Team (75+)

No team information available.

Company Description

Problem

Many organizations struggle with a lack of visibility into IT expenses, leading to difficulties in optimizing technology investments and ensuring financial accountability. Hidden IT costs and scattered data undermine IT leadership, impacting stakeholder relationships and hindering effective decision-making.

Solution

MagicOrange provides an IT financial management (ITFM) and FinOps platform that delivers transparency into IT expenses and cost drivers. The platform enables organizations to optimize IT spending across on-premises, hybrid, and cloud environments by integrating financial management with IT operations. Through detailed cost allocations, budget tracking, and financial analysis, MagicOrange aligns technology investments with business goals. The platform offers features such as flexible cost modeling, cloud cost management, budgeting and forecasting, and powerful reporting to provide a clear bill of IT and drive profitability.

Features

Flexible cost modeling to segregate costs and generate dashboards for cost transparency across the business

Cloud cost management to optimize IT spend across on-premises, hybrid, and cloud environments

Budgeting and forecasting tools to streamline budgeting and enhance cost transparency

Showback and chargeback automation for real-time visibility and optimized cost recovery

Integration with Microsoft Power BI for self-service analytics

Scenario modeling to assess multiple scenarios, including different budgets, actuals, and forecast data

Product and service catalog creation

Operational driver identification and mapping to support cost allocations

Target Audience

MagicOrange primarily targets ITFM practitioners, FinOps practitioners, CIOs, CFOs, and CTOs seeking to optimize IT costs, enhance financial visibility, and align technology investments with business objectives.