Israeli autonomous real-time computing workload optimization and cost reduction solution company Granulate today announced the completion of a $30 million Series B financing round. The round was led by Red Dot Capital Partners with the participation of existing investors Insight Partners, TLV Partners, and Hetz Ventures and new investor.
The company has raised $45 million, after raising $12 million last April, and since then adoption of the company's solution has more than tripled. Over the past 10 months, Granulate has experienced 360% new customer growth and 570% revenue growth.
Granulate's AI-driven solution tailors workload prioritization for the unique needs of any company, reducing response times by up to 40% and driving a fivefold increase in throughput.
Granulate was founded by CEO Asaf Ezra and CTO Tal Saiag. Ezra said, "Companies with increased computing resource needs have faced a simple trade-off - pay more or get by with less. Granulate lets companies do both: achieve much more with what they already have while paying less, gaining higher efficiency and margins. In the wake of today's challenging financial realities, we've seen a staggering increase in demand for our solution, which saves companies money, computing resources, and time. Optimized computing power means optimized business."
Red Dot Capital Partners managing partner Yaniv Stern said, "Granulate's unique technology and impressive growth since their last funding round reflects a rising market demand for their game-changing optimization solution. For companies facing rising infrastructure costs or focusing on operating cost reduction, Granulate offers a solution that can drive additional improvement regardless of any other solutions already deployed by their clients."
Published by Globes, Israel business news - en.globes.co.il - on February 3, 2021
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