{"id":1155,"date":"2023-11-08T15:44:03","date_gmt":"2023-11-08T07:44:03","guid":{"rendered":"https:\/\/www.1ai.net\/?p=1155"},"modified":"2023-11-08T15:44:03","modified_gmt":"2023-11-08T07:44:03","slug":"%e5%b8%ae%e5%8a%a9%e4%bc%81%e4%b8%9a%e4%bc%98%e5%8c%96%e4%ba%91%e8%ae%a1%e7%ae%97%e6%94%af%e5%87%ba%e7%9a%84-cast-ai-%e5%85%ac%e5%8f%b8%e8%8e%b7-3500-%e4%b8%87%e7%be%8e%e5%85%83%e6%8a%95%e8%b5%84","status":"publish","type":"post","link":"https:\/\/www.1ai.net\/en\/1155.html","title":{"rendered":"Cast AI, a company that helps companies optimize cloud computing spending, raises $35 million"},"content":{"rendered":"

In 2023, global cloud user spending is expected to exceed $599 billion, a significant increase from $421 billion in 2021 and nearly $500 billion in 2022. However, enterprises face challenges in adapting to the new digital normal, especially incloud computing<\/a>In terms of expenses. A recent Forrester report shows that94% of companies incur avoidable cloud costs due to underutilization of resources, overprovisioning, and lack of internal talent to manage cloud infrastructure<\/strong>.<\/p>\n

\"202005281122262370_78\"<\/p>\n

To address this challenge, the financial operations (FinOps) market has emerged, focusing on simplifying the coordination and optimization tasks of cloud services.Cast AI<\/a> With its innovative technology, it stands out in the fierce market competition.Announced the completion of a $35 million Series B financing round led by Vintage Investment Partners, with participation from Creandum and Uncorrelated Ventures.<\/strong><\/p>\n

This round of financing brings Cast AI's total funding to $73 million, which will be used to develop products and expand its team of more than 100 employees. CEO Yuri Frayman said: "In the current economic environment, every startup needs to answer a fundamental question: 'Will our business grow significantly due to economic headwinds, or will we experience revenue contraction? Our business continues to grow rapidly because we help customers save money on cloud spending while improving performance and reliability, and enhancing DevOps and engineering productivity."<\/p>\n

Cast AI was co-founded in 2019 by Frayman, Leon Kuperman, and Laurent Gil, inspired by Zenedge, the cloud security company they previously co-founded (acquired by Oracle in 2018). At Zenedge, they struggled to control cloud costs as they scaled their platform. Cast AI aims to build a tool that automatically scales cloud usage while providing insights into cost optimization and proactive configuration of Kubernetes clusters.<\/p>\n

Cast AI now connects to public cloud services including AWS, Google Cloud Platform, and Azure, leveraging model analytics and autonomous tuning of these clusters.<\/strong>Frayman added:Our model is trained on millions of utilization data points collected every 15 seconds, including anonymized CPU and memory utilization across all regions and all cloud providers around the world.<\/strong>"<\/p>\n

Cast AI\u2019s competitors include FinOps startups such as Exostellar in the FinOps market, which is expected to be worth $2.75 billion by 2023. But according to a 2023 Wakefield Research report, nearly a third of developers, engineers, and executives are prioritizing FinOps this year. invest<\/a>74% respondents said they now consider FinOps to be as important as other established IT disciplines such as DevOps and SecOps.<\/p>\n

\u201cAs enterprises increasingly adopt cloud native, our influence in the C-suite is growing,\u201d said Frayman. \u201cCustomers seek solutions like Cast AI because they need an unbiased source of truth to help them navigate FinOps problems.We don\u2019t care about Google, Amazon or Microsoft making more money \u2013 our ultimate responsibility is to save our customers money, and that\u2019s what we deliver.<\/strong>.<\/p>","protected":false},"excerpt":{"rendered":"

Global cloud subscriber spending is expected to exceed $599 billion in 2023, a significant increase from $421 billion in 2021 and nearly $500 billion in 2022. However, organizations face challenges in adapting to the new digital normal, especially when it comes to cloud overhead. A recent Forrester report revealed that a whopping 94% of companies are experiencing avoidable cloud expenses due to a variety of reasons, including underutilization of resources, overprovisioning, and a lack of in-house talent to manage cloud infrastructure. In response to this challenge, the Financial Operations (FinOps) marketplace has emerged, focused on simplifying the task of orchestrating and optimizing cloud services. In this space, Cast AI stands out in a competitive market with its innovative technology, today<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[146],"tags":[378,376,377],"collection":[],"class_list":["post-1155","post","type-post","status-publish","format-standard","hentry","category-news","tag-cast-ai","tag-376","tag-377"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.1ai.net\/en\/wp-json\/wp\/v2\/posts\/1155","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.1ai.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.1ai.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.1ai.net\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.1ai.net\/en\/wp-json\/wp\/v2\/comments?post=1155"}],"version-history":[{"count":0,"href":"https:\/\/www.1ai.net\/en\/wp-json\/wp\/v2\/posts\/1155\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.1ai.net\/en\/wp-json\/wp\/v2\/media?parent=1155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.1ai.net\/en\/wp-json\/wp\/v2\/categories?post=1155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.1ai.net\/en\/wp-json\/wp\/v2\/tags?post=1155"},{"taxonomy":"collection","embeddable":true,"href":"https:\/\/www.1ai.net\/en\/wp-json\/wp\/v2\/collection?post=1155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}