CAST AI, a startup based in Miami, Florida that offers intelligent cloud-native automation and cost management solutions, has secured $20 million in new funding. The funding round was led by Creandum, an early-stage venture capital firm, which invested $15 million.
CAST AI’s existing investors also contributed an additional $5 million, indicating renewed interest in advanced AI-driven cloud cost optimization solutions.
The funding will allow CAST AI to take advantage of the growing market for cloud-native solutions, which is experiencing hypergrowth while grappling with the challenge of long-term cost management. Yuri Frayman, CEO of CAST AI, stated that the funding will enable the company to expand its position as a leading provider of intelligent cloud optimization solutions globally and to expand its all-in-one platform capabilities to more cloud-native ecosystems and use cases.
CAST AI’s platform utilizes AI and automation to analyze compute resources and optimize them in minutes. By connecting their Kubernetes clusters to the platform, organizations can benefit from suggested recommendations and use powerful cloud-native automation techniques for immediate cost reduction. The platform provides a full suite of solutions, including cost monitoring, autoscaling, spot instances automation, and container security, positioning itself as an all-in-one platform for cloud-native applications.
CAST AI’s headquarters is in Miami, US, with a European branch in Vilnius, Lithuania. The company offers an autonomous Kubernetes platform that cuts cloud bills in half, automates DevOps tasks, and prevents downtime. The platform is powered by AI, which analyzes multiple data points to find an optimal cost-performance ratio, and continuously monitors the cluster to keep the configuration optimal.
CAST AI’s platform addresses a crucial need in the market as companies increasingly move to containerized applications in the cloud. The platform’s AI-driven automation and optimization capabilities allow organizations to save on cloud costs, increase efficiency, and reduce downtime. With the new funding, CAST AI is well-positioned to continue to innovate and meet the demands of the rapidly evolving cloud-native market, while providing its customers with the tools they need to succeed in the cloud.
