CAST AI, the Kubernetes cost optimization platform, has closed a $35 million Series B round from Vintage Investment Partners and existing investors Creandum and Uncorrelated Ventures. The new funding follows a $20 million investment round led by Creandum in March, bringing the company’s total funding raised to $73 million and underscoring the company’s strong growth and increasing demand for its platform.
While some solutions offer basic capabilities that merely monitor clusters and make recommendations, CAST AI’s platform utilizes advanced Machine Learning Algorithms and Heuristics to automatically optimize clusters, saving customers 50% or more on their cloud spend, improving performance and reliability and boosting DevOps and engineering productivity.
Today at KubeCon Chicago 2023, CAST AI also announced two pivotal new platform capabilities – Automated Workload Rightsizing and PrecisionPack. These new features are not just standalone capabilities; they are significant drivers in a robust platform. When integrated with CAST AI’s Cost-Aware Autoscaler, Spot Instance Management and the complete Cost Reporting Suite, it forms a powerful combination that drives cost-efficiency and performance optimization to the next level. Automated Workload Rightsizing ensures that Kubernetes workloads are not just efficiently sized but are managed in a cost-aware manner, embodying a holistic approach to cost optimization and resource utilization.
CAST AI was also recently named a Cool Vendor in the 2023 Gartner Cool Vendors in Cloud That Drive Business Disruption report.