[Funding alert] Vilnius-based Cost Optimisation Platform CAST AI Secures $35 million in Series B Round Funding

This brings our total funding raised to $73 million and comes on the heels of CAST AI being named one of 2023 Gartner® Cool Vendors™ in Cloud That Drive Business Disruption.

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They are using the new round of funding to accelerate their pace of innovation and save customers even more on their AWS, Azure, and Google Cloud bills. There’s never been a more pressing time to solve the cloud cost challenge than now, so it’s time to act.

Their mission is to deliver a fully automated Kubernetes experience. It’s about creating an integrated platform where every component – from cost reporting to instance management – works in unison. With new feature releases, they are getting one step closer to making that happen.

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Running workloads in the cloud comes with a hefty price tag, which will only get more expensive with the rush to train AI models demanding GPUs and complex computations.

AI promises to unlock new exciting opportunities, and it’s already become a standard market demand. According to WSJ, CTOs face growing pressure to build more AI apps, while 70% of companies Gartner surveyed earlier this year had already dived into this area.

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Born out of frustration with soaring cloud costs, CAST AI targets the obstacles standing in the way of unleashing cloud native’s potential. Built for Kubernetes, it continuously analyzes the user’s workload’s needs and automatically optimizes cloud resources, delivering average savings of 50% and more.

The new round of funding will further expand the capabilities of their Kubernetes cost optimization platform. Their goal is simple: save users even more money and time.

About CAST AI

Personal frustration prompted us to found CAST AI. One of the characteristics of their before startup, Zenedge, which Oracle purchased in 2018, was the exponential increase of their cloud bill, that we had just sold.

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"There has to be a way to fix this once and for all," we kept thinking. Thus, they made the decision to develop a platform that would enable businesses to automatically optimise and cut their cloud expenses without the need for human participation. And thus CAST AI came to be. they created the platform that every cloud-native business uses today.