The company, founded in 2019, serves multiple enterprise customers including Akamai, Yotpo, Sharechat, Rollbar, and EVgo. Its platform uses advanced machine learning algorithms to automatically optimize Kubernetes clusters, providing full visibility into resource provisioning. The system can save enterprises 50% or more on their cloud spend. With the new funding, Cast AI plans to expand its product and automate more aspects of Kubernetes optimization.
Key takeaways:
- Cast AI, a startup that uses machine learning to help enterprises manage their cloud spend, has raised $35 million in a series B funding round led by Vintage Investment Partners.
- The company plans to use the funding to enhance its AI offering and provide a more capable solution for enterprise teams to track and optimize their cloud spend.
- Cast AI was launched in 2019 and is currently serving multiple enterprise customers, including Akamai, Yotpo, Sharechat, Rollbar, Switchboard and EVgo.
- With the latest funding, Cast AI plans to expand its product and automate more aspects of Kubernetes optimization, including the launch of two new features: Workload Rightsizing and PrecisionPack.