NEW YORK, May 5, 2025 /PRNewswire/ — YäRKEN, the first AI native 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.
The ITFM market is projected to grow at 12.7% per annum and hit US$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 licences and usage across multiple business units. Yarken’s AI-native approach reduces implementation times, delivers average cost reductions of 15-25%, and significantly reduces ongoing maintenance hours by up to 50%.
Yarken was founded by seasoned entrepreneurs Ravi Kuppan (CEO) and Vaibhav Kulkarni (CTO), after the successful sale of their enterprise software company Tarantula Global to Constellation Software. Kuppan said, “Our years delivering software to large global enterprises showed us 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.”
Ravi Kuppan, Yarken CEO stated, “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, our clients gain comprehensive, actionable cost insights months faster than our competitors.” He added, “Yarken’s platform provides comprehensive audit trails and cost transparency, helping enterprises maintain compliance and enhance IT governance.”
Yarken, which was recently included in Gartner’s 2025 Market Guide for ITFM as an established offering, has been rapidly expanding in the United States and Canada. 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 Yarken’s powerful analytics and cost management tools.
“Yarken’s light TBM approach and ease of use help us provide innovative solutions to the North American market. By integrating Yarken’s platform into our service offerings, we can help clients gain deeper insights into IT spend and drive more strategic decision-making.” said Quinn Abraham, VP of TBM / FinOps at Maryville Consulting.
“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,” said James Kim, Operating Partner of 1982 Ventures and former Managing Director at Accenture. He added, “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.”
Scott Krivokopich, Founding Managing Partner at 1982 Ventures, stated, “We are 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.”
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.
Kuppan added, “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.”
About Yarken:
YäRKEN is a leading AI-native IT Financial Management (ITFM) solution provider recognized for its innovative approach and featured in Gartner’s Market Guide for ITFM 2025. Yarken enables businesses to gain complete visibility into their IT spend, optimize costs, and make strategic decisions through AI-driven insights, forecasting, and benchmarking. Yarken’s platform simplifies ITFM, providing faster implementation, enterprise-grade scalability, and robust analytics.
For more information, visit: www.yarken.com
SOURCE 1982 Ventures; Yarken
