Total amount raised
$52.6 Millions
Latest funding date
3/1/2020
Location
Spot has successfully raised significant funding over multiple rounds, culminating in its acquisition by NetApp for $450 million. The platform specializes in cloud cost analysis, reserved capacity management, and auto-scaling applications, leveraging AI to optimize cloud infrastructure for SaaS companies.
Keep reading to explore the intricacies of Spot's fundraising journey and the investors backing this innovative platform.
What Is Spot?
Spot, founded on January 1, 2014, is headquartered in San Jose, California. The company was established by Aharon Twizer, Amiram Shachar, and Liran Polak.
Specializing in cloud cost analysis, reserved capacity management, and auto-scaling applications, Spot leverages AI to optimize cloud infrastructure for SaaS companies. Their solutions help businesses manage costs and improve cloud performance.
With a team of 101-250 employees, Spot continues to innovate in the realm of cloud operations, providing essential tools for cost control and infrastructure optimization.
How Much Funding Has Spot Raised?
- Seed Round
- Amount Raised: $600K
- Date: October 2015
- Lead Investors: PICO Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their cloud cost management platform.
- Seed Round
- Amount Raised: $2M
- Date: March 2016
- Lead Investors: PICO Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop their product and expand their market reach.
- Series A
- Amount Raised: $15M
- Date: July 2017
- Lead Investors: Intel Capital, Vertex Ventures, Vertex Ventures Israel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop workload management products and expand services in the serverless domain.
- Series B
- Amount Raised: $35M
- Date: August 2018
- Lead Investors: Highland Europe
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance their cloud optimization solutions.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: March 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and innovation in cloud cost management.
Total Amount Raised: $52.6M
Current Valuation: Not publicly disclosed
Key Investors
- Highland Europe
- Details: Highland Europe is a growth-stage technology investor based in London and Geneva. They focus on helping companies scale and achieve global success.
- Investment Focus Areas: Internet, mobile, software companies.
- Notable Investments: WeTransfer, Malwarebytes, Nexthink.
- Intel Capital
- Details: Intel Capital is the global investment organization of Intel Corporation. They invest in innovative technology companies worldwide.
- Investment Focus Areas: Cloud computing, artificial intelligence, data center technologies.
- Notable Investments: Red Hat, VMware, Cloudera.
- Vertex Ventures
- Details: Vertex Ventures is a global network of venture capital funds. They focus on early-stage investments in technology-driven companies.
- Investment Focus Areas: IT, enterprise software, cloud computing.
- Notable Investments: Waze, CyberArk, SolarEdge.
- PICO Venture Partners
- Details: PICO Venture Partners is an early-stage venture capital firm based in Israel. They invest in innovative technology companies.
- Investment Focus Areas: Early-stage technology companies, cloud computing, enterprise software.
- Notable Investments: Via Transportation, Vroom.
What's Next for Spot?
Spot is poised to capitalize on the burgeoning demand for cloud cost management and serverless computing. With plans to develop workload management products and expand services in the serverless domain, the company is well-positioned to grow its market presence. The expansion of marketing and sales offices in San Francisco and London further underscores the potential for significant growth.
Future fundraising opportunities seem promising, given the successful Series A round and the company's ambitious growth plans. However, Spot may face challenges such as intense competition and the need for continuous innovation to keep pace with rapid technological changes in cloud computing.
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