CAST AI revealed today that it has completed a $20 million financing round. Prior investors contributed $5 million toward this fundraising.
For Kubernetes automation, optimization, security, and cost management, CAST AI offers an all-in-one platform. It cuts your cloud expense in half, automates DevOps processes, and minimizes downtime in one Autonomous Kubernetes platform. It uses AI to assess several data points and determine the best cost-performance ratio.
“This funding is just in time to take advantage of the tremendous opportunity in the market as more and more companies transition to containerized applications in the cloud. With this investment, we can further grow our position as a leading provider of intelligent cloud optimization solutions globally as well as expand our all-in-one platform capabilities to more cloud-native ecosystems and use cases.”
According to Yuri Frayman, CEO of CAST AI
The round was led by Creandum, an early-stage venture capital investment company, which invested $15 million. CAST AI’s initial investor group also participated, investing $5 million, demonstrating a resurgence in enthusiasm for cutting-edge AI-driven cloud cost optimization solutions.
With this funding, CAST AI is well-positioned to take advantage of a sizable opportunity as the cloud-native solutions market undergoes hypergrowth while battling the difficulty of long-term cost management.
Frayman also says that Cast will put the newly secured funds, which bring the startup’s total raised to more than $38 million, toward growing its team and “working toward being cash-flow positive.”
Cast AI, which is powered by AI and was founded by Yuri Frayman, Leon Kuperman, and Laurent Gil in 2019, analyzes a company’s cloud usage in an effort to determine the best cost-performance ratio. Customers of Cast AI can link their Amazon, Google Cloud, and Azure cloud plans to view recommendations and have the system carry them out automatically.
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