Cast AI, a Miami, FL-based cloud-native automation and cost management startup, raised $20M in funding.
The round was led by Creandum.
The company intends to use the funds to expand operations and its business reach.
Led by CEO Yuri Frayman, Cast AI is an all-in-one cloud-native automation platform that cuts cloud bills in half for AWS, GCP, and Azure customers. The platform employs AI and automation to analyze compute resources and optimize them in minutes. By connecting their Kubernetes clusters to the platform, organizations can see suggested recommendations and use cloud-native automation techniques for immediate cost reduction.
Since the platform launch, CAST AI has experienced quarter-by-quarter revenue growth of over 220%, based on the company’s ability to provide optimization solutions that simplify cloud-native application management, a much-needed service in today’s tech-driven world.
