Cloud cost management co Spotinst raises $15m

Spotinst Photo: PR

The Israeli company's workload management platform can save customers 80% in their current computing costs.

Israeli cloud cost management company Spotinst has completed a Series A financing round of $15 million led by Intel Capital and with the participation of Vertex Venture Capital. The company raised $2 million last year from PICO Ventures.

"The company will use the new funds to develop its workload management products and expand services especially in the serverless domain," a source close to the company told "Globes," "while expanding its marketing and sales offices in San Francisco and London."

Headquartered in Tel Aviv, Spotinst was founded in 2015 by CEO Amiram Shachar, chief architect Liran Polak and CTO Aharon Twizer.

The company's workload management platform can save customers 80% in their current computing costs. Spotinst's vision is to revolutionize the way DevOps and R&D teams distribute their computing capacity whether infrastructure runs on Amazon Web Services, Google Cloud Platform, Microsoft Azure or even a VMware on a private cloud. Spotinst provides the optimal framework for computer provisioning, optimization and cost-effective utilization.

Published by Globes [online], Israel business news - www.globes-online.com - on July 2, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

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Spotinst Photo: PR
Spotinst Photo: PR
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