YäRKEN Secures Funding to Transform IT Financial Management with AI
YäRKEN, the first AI-native IT Financial Management (ITFM) platform for enterprise clients, has successfully secured a fundraising round led by 1982 Ventures. The funding will allow YäRKEN to further develop its AI capabilities and expand its customer base across North America, providing businesses with advanced tools to manage and forecast complex IT expenditures more effectively.
Rapid Growth in the ITFM Market
The ITFM market is projected to grow at 12.7% annually, with a forecasted value of US$14 billion by 2033. This growth is largely driven by the increasing need for Chief Information Officers (CIOs) to efficiently manage cloud, on-premises, software licenses, and usage data across multiple business units. YäRKEN’s AI-native approach enables faster implementation, with an average cost reduction of 15-25%, and reduces ongoing maintenance efforts by up to 50%.
YäRKEN’s AI-driven Solution
Founded by Ravi Kuppan (CEO) and Vaibhav Kulkarni (CTO), YäRKEN leverages artificial intelligence to solve the challenges that CIOs face in managing IT infrastructure costs. The platform is designed to integrate seamlessly with any IT system, regardless of data format, to provide actionable cost insights. This gives businesses a clear, transparent view of their tech spend, helping them maintain compliance and improve IT governance.
“Our native AI can analyze data from any IT system, providing insights months faster than competitors,” said Ravi Kuppan. “We help businesses track cloud spending, software licenses, and hardware assets more effectively.”
YäRKEN also provides comprehensive audit trails, enhancing governance and compliance.
YäRKEN’s Strategic Growth and Expansion
The company, recently included in Gartner’s 2025 Market Guide for ITFM, is expanding rapidly across North America. Maryville Consulting, known for its expertise in Technology Business Management (TBM), will now offer YäRKEN’s platform to its extensive client base, further streamlining access to its powerful analytics and cost management tools.
“YäRKEN’s ease of use and light TBM approach allow us to provide innovative solutions to the North American market,” said Quinn Abraham, VP of TBM/FinOps at Maryville Consulting.
Financial Impact for CIOs
James Kim, Operating Partner at 1982 Ventures and former Managing Director at Accenture, emphasized how YäRKEN’s platform helps CIOs balance the competing demands of reducing costs while continuing to invest in new technologies. The platform’s integrated forecasting and benchmarking capabilities provide actionable insights, enabling proactive budget adjustments and faster IT planning.
“YäRKEN gives CIOs full visibility into tech spend, allowing businesses to collaborate on budget adjustments in real-time,” said James Kim.
YäRKEN’s Future and Market Expansion
The funding will fuel YäRKEN’s next phase of growth, with plans to expand its customer base across North America and enhance its AI capabilities. The company is also exploring additional strategic partnerships with key industry players to further broaden its market reach.
“We’re just getting started,” said Ravi Kuppan. “This investment will help us redefine how enterprises manage IT spend and deliver even more value to our customers.”
With the backing of 1982 Ventures, YäRKEN is poised to revolutionize the IT Financial Management landscape. By combining AI-powered insights with seamless integration into existing enterprise systems, YäRKEN’s platform is set to reshape how companies manage and optimize their IT expenditures, driving faster decisions and greater cost efficiencies.
