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Cloud Cost Management Co Spotinst Raises $15M

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Wednesday, July 5th, 2017

The Israeli company’s workload management platform can save customers 80% in their current computing costs.

As reported in Globes:

Israeli cloud cost management company Spotinst has completed a Series A financing round of $15 million led by Intel Capital and with the participation of Vertex Venture Capital. The company raised $2 million last year from PICO Ventures.

“The company will use the new funds to develop its workload management products and expand services especially in the serverless domain,” a source close to the company told “Globes”.

Headquartered in Tel Aviv, Spotinst was founded in 2015 by CEO Amiram Shachar, chief architect Liran Polak and CTO Aharon Twizer.

The company’s workload management platform can save customers 80% in their current computing costs. Spotinst’s vision is to revolutionize the way DevOps and R&D teams distribute their computing capacity whether infrastructure runs on Amazon Web Services, Google Cloud Platform, Microsoft Azure or even a VMware on a private cloud. Spotinst provides the optimal framework for computer provisioning, optimization and cost-effective utilization.

Cost management and the need for tailored price structures have become increasingly vital with the mainstream adoption of cloud computing by Australian enterprises.