Lithuanian CAST AI closes $20M Series B round
Miami/Vilnius-based CAST AI has announced the closing of a $35 million Series B round from Vintage Investment Partners, Creandum, and Uncorrelated Ventures, which brings its total funding raised to $73 million.
- CAST AI provides an all-in-one cloud-native automation platform, Kubernetes, that cuts cloud bills in half for such services as AWS, GCP, and Azure. Its mission is to deliver a fully automated experience where every component – from cost reporting to instance management – works together.
- Companies like NielsenIQ, OpenX, Branch.io, and ShareChat have used the platform to automate Kubernetes. Recently, CAST AI onboarded such brands as Akamai and Yotpo.
“Provisioning spot instances takes knowledge and time, just like many other tasks when you manage Kubernetes costs manually. It’s difficult to find engineers capable of handling these jobs, so it makes perfect sense to take tedious and repetitive tasks off their plates. Instead of handling endless patches, they can focus on applications that drive business growth.”the startup’s team commented.
- The funding was led by Vintage Investment Partners, a VC firm headquartered in Israel with a strong footprint in the US and Europe and over $3.6 billion in assets. Existing investors Creandum and Uncorrelated Ventures also joined. In March this year, the company received a $20 million investment.
- The new round of funding will further expand the capabilities of the Kubernetes cost optimization platform.