Exotanium, an Ithaca, New York-based startup offering a cloud resource optimization and management platform, announced that it secured $12 million in a Series A funding round led by Cambium Capital and Celesta Capital.
This new funding will support the company's future product roadmap, including expanding to new platforms and hyperscalers and developing a self-service marketplace.
Exotanium will also allocate funds toward marketing and recruitment efforts to further fuel brand awareness among enterprise customers.
"Our platform offers a finer level of control over cloud computing resources, helping global enterprises enhance operational security, elevate performance, and drive significant cost savings," said Hakim Weatherspoon, co-founder, and CEO of Exotanium. "Many companies spend up to half of their revenue on cloud services, and there is significant waste in most systems. – our unprecedented technology is changing this. Within five years, Exotanium will be the only continuous optimization provider allowing enterprises to manage workloads across all major cloud platforms automatically. We are grateful for the continued support of our investors, who truly believe in our team and our innovation."
Exotanium offers a platform for users to optimize cloud computing for greater cost efficiencies, leveraging its exclusive license to patent-pending technology developed at Cornell University, combined with artificial intelligence and machine learning.
Exotanium also plans to utilize the new funding to recruit top engineering talent and accelerate its product roadmap.
Company: Exotanium, Inc
Raised: $12.0M
Round: Series A
Funding Month: November 2022
Lead Investors: Cambium Capital and Celesta Capital
Additional Investors:
Company Website: https://exotanium.io/
Software Category: Cloud Resource Optimization and Management Platform
About the Company: Exotanium is a cloud resource optimization and management platform that uses artificial intelligence (AI) and machine learning (ML). The platform helps enterprises increase the amount of computing they use by up to 5x, using the same budget while enhancing operational security and computing performance. Exotanium's technology is designed to work alongside other popular resource management options like Kubernetes and Slurm, giving engineering and DevOps teams more options and control over cloud costs. In addition to AWS, Exotanium plans to bring the platform to additional hyperscalers, including Azure, GCP, and IBM. Exotanium are dedicated to developing the future of affordable cloud computing technology that empowers enterprises to command a finer level of control over their cloud computing resources.
Source: https://www.prnewswire.com/news-releases/exotanium-raises-12-million-in-series-a-round-funding-helps-enterprises-manage-and-optimize-cloud-services-more-effectively-301670809.html