Total amount raised
$73 Millions
Latest funding date
11/1/2023
Location
CAST AI has successfully raised $35 million in its latest Series B funding round, attracting a diverse group of 11 investors including Hedosophia and Vintage Investment Partners.
The platform specializes in Kubernetes automation, offering solutions that significantly reduce cloud costs for AWS, Azure, and GCP customers.
What Is CAST AI?
CAST AI, founded on October 1, 2019, is headquartered in North Miami Beach, Florida. The company specializes in Kubernetes automation, offering solutions that significantly reduce cloud costs for AWS, Azure, and GCP customers.
The platform was co-founded by Augustinas Stirbis, Austeja Zymantaite, Einaras von Gravrock, Laurent Gil, Leon Kuperman, Vilius Zukauskas, and Yuri Frayman. Their combined expertise has driven the company to become a leader in its field.
With a team of 101-250 employees, CAST AI leverages advanced machine learning algorithms to optimize Kubernetes clusters in real-time, enhancing performance, security, and productivity for its clients.
How Much Funding Has CAST AI Raised?
- Seed Round
- Amount Raised: $8M
- Date: November 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their Kubernetes automation platform.
- Series A
- Amount Raised: $10M
- Date: October 2021
- Lead Investors: Cota Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their team and accelerate product development.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: December 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and product enhancements.
- Series B
- Amount Raised: $20M
- Date: March 2023
- Lead Investors: Creandum
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and entrance into new cloud-related verticals.
- Series B
- Amount Raised: $35M
- Date: November 2023
- Lead Investors: Hedosophia, Vintage Investment Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the company, including hiring more people and expanding platform capabilities.
Total amount raised: $73M. Current valuation: Not publicly disclosed.
Key Investors
- Hedosophia
- Details: Hedosophia is a venture capital firm that focuses on investing in technology companies. They are known for their strategic investments in high-growth sectors.
- Investment Focus Areas: Technology, internet, media.
- Notable Investments: Not publicly disclosed.
- Vintage Investment Partners
- Details: Vintage Investment Partners is a leading venture capital and growth equity firm. They specialize in secondary funds and direct investments in technology companies.
- Investment Focus Areas: Venture capital, growth equity, secondary funds.
- Notable Investments: Not publicly disclosed.
- Creandum
- Details: Creandum is a European venture capital firm that invests in early-stage technology companies. They have a strong track record of supporting innovative startups.
- Investment Focus Areas: Early-stage technology, SaaS, fintech, deep tech.
- Notable Investments: Spotify, iZettle, Klarna.
- Cota Capital
- Details: Cota Capital is a multi-stage investment firm that focuses on technology companies. They provide capital and strategic support to help companies grow.
- Investment Focus Areas: Technology, software, enterprise solutions.
- Notable Investments: Not publicly disclosed.
- Uncorrelated Ventures
- Details: Uncorrelated Ventures is a venture capital firm that invests in early-stage technology companies. They focus on startups that leverage data and automation.
- Investment Focus Areas: Cloud infrastructure, data, machine learning.
- Notable Investments: Databricks, Confluent.
What's Next for CAST AI?
CAST AI is poised to capitalize on the burgeoning cloud optimization market, with opportunities to scale their operations and enhance their platform capabilities. The potential to save customers up to 50% on cloud costs presents a significant value proposition, especially for enterprises with substantial cloud expenditures.
Future fundraising rounds seem likely as the company continues to innovate and expand its customer base. However, challenges such as competition from other cloud optimization solutions and the need to keep up with rapid technological advancements could pose hurdles. Ensuring the scalability and reliability of their platform will be crucial as they grow.
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