Cast AI, a Miami, FL-based startup focused on optimizing cloud spending and performance, raised $35 million in Series B funding, bringing its total funding to $73 million.
The round was led by Vintage Investment Partners, with participation from Creandum and Uncorrelated Ventures.
Founded in 2003, Vintage Investment Partners is a venture capital firm based in Herzliya, Israel. The firm combines fund-of-funds, secondary funds, and growth funds. With over $3.6 Billion under management, 14 active funds, across the U.S., Europe, and Israel.
Cast AI Use of Funds
The funds will be used for product development and expanding the company's team.
About Cast AI
Founded in 2019 by Yuri Frayman, Leon Kuperman, and Laurent Gil, Cast AI is an all-in-one platform for Kubernetes automation, optimization, security, and cost management. The company’s platform is designed to help businesses optimize their cloud usage and spending. It can automatically adjust cloud usage up and down while optimizing for cost and providing insights into how cloud resources, particularly Kubernetes clusters, are provisioned. Cast AI connects to public cloud providers like AWS, Google Cloud Platform, and Azure and uses machine learning models to analyze and autonomously tune Kubernetes clusters across servers.
Company: CAST AI Group Inc.
Round: Series B
Funding Month: November 2023
Lead Investors: Vintage Investment Partners
Additional Investors: Creandum and Uncorrelated Ventures
Company Website: https://cast.ai/
Software Category: Kurbenetes Cost Optimization and Automation Platform