Israeli proprietary public cloud optimization and operations software company DoiT International has announced that it has raised over $100 million from Charlesbank Technology Opportunities Fund and affiliated investors. Prior to this investment, DoiT had not taken any outside investment.
This investment will enable the company to invest in its software platform, scale its global team of cloud architects, grow its presence in North America and Europe, and pursue strategic acquisitions.
Founded in 2011 by CEO Yoav Toussia-Cohen and general manager Vadim Solovey, the company has offices in Tel Aviv, New York, San Francisco, Austin, and London. DoiT says it is on track to more than double revenue in 2019.
DoiT’s offering delivers significant value to its growing base of technology customers, providing support for public cloud workloads with complex requirements such as multi-cloud Kubernetes deployments, real-time data and analytics, and machine intelligence. Its software platform uses machine learning to enable customers to right-size workloads and optimize their public cloud spend across any of the three major public cloud providers.
Solovey said, "Our goal is to help our customers harness the power of public cloud technologies in the most efficient way, freeing up their resources to invest in providing the best products to their customers. This investment by Charlesbank will allow us to accelerate development of our platform’s multi-cloud capabilities and support for the three major public cloud platforms."
Toussia-Cohen added, "Today’s announcement marks a major milestone in our journey as we build DoiT into a global company. We are pleased to be partnering with Charlesbank, who is well-aligned with our vision and will help us extend our presence globally, providing more companies with our solutions."
"DoiT has built an impressive solution that enables some of the most sophisticated cloud users to adopt the latest technologies from Google, Amazon, and Microsoft, while optimizing their public cloud usage," said Darren Battistoni, a Managing Director at Charlesbank who will join the DoiT Board of Directors. "Having spoken to many of their customers, it is clear that DoiT’s combination of innovative software and best-in-class technical capabilities provides the trusted external support that customers need to address the ongoing challenges associated with complex public cloud deployments. We are thrilled to partner with the talented DoiT management team, in what is the second investment for Charlesbank’s Technology Opportunities Fund."
Published by Globes, Israel business news - en.globes.co.il - on November 3, 2019
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