Antimetal, a New York-based company that provides a cloud cost optimization platform, emerged from stealth and announced that it raised $4.3 million in seed funding.
The round was led by Framework Ventures, with participation from Chapter One, IDEO CoLab Ventures, Polygon Ventures, Alchemy Ventures, and Builder Capital.
Angel investors including Ecosystem Lead at Starkware Louis Guthmann, Software Engineer at Optimism Kelvin Fichter, CEO of Waymont Jai Bhavnani, and Founder and CEO of Saddle Sunil Srivatsa, also participated in the round.
The funds will be used to expand the company’s engineering team and continue the development of the platform.
“With a one-click integration, our AI-powered platform is able to analyze an entire account, create a custom risk model, and figure out what’s going to work best for each company’s specific situation within seconds,” said Matthew Parkhurst, CEO of Antimetal. ”Our technology helps startups and enterprises save millions to allocate elsewhere, ultimately allowing them to focus on their bottom line"
Company: Antimetal, Inc.
Round: Seed Round
Funding Month: May 2023
Lead Investors: Framework Ventures
Additional Investors: Chapter One, IDEO CoLab Ventures, Polygon Ventures, Alchemy Ventures, Builder Capital, Louis Guthmann, Kelvin Fichter, Jai Bhavnani, and Sunil Srivatsa
Company Website: https://www.antimetal.com/
Software Category: Cloud Cost Optimization Platform
About the Company: Founded by Matthew Parkhurst and Shreyas Iyer, Antimetal is a cloud cost optimization platform provider that helps businesses maximize savings while minimizing underutilization concerns. Antimetal’s solution leverages AI to automate the entire cost optimization process, including the buying, selling, and risk management of infrastructure commitments, which helps companies achieve maximum savings while minimizing underutilization risks. The company’s mission to address the growing problem of rising cloud costs is more relevant than ever. Antimetal is already helping companies like CarVal, Clay, Gnosis Freight, and many others save on their AWS bill.