Lithuanian cloud optimization platform Cast AI raised $35M

Vilnius and Miami-based cloud optimization platform Cast AI raised $35M. Israeli VC Vintage Investment Partners was the lead investor in round B. Swedish early-stage venture capital firm Creandum and US Uncorrelated Ventures also participated in the deal.

Founded in 2019 by Yuri Frayman, Laurent Gil, and Leon Kuperman, CAST AI developed a platform, that helps enterprises that use Amazon Web Services, Google Cloud Platform, and Microsoft Azure manage their cloud infrastructure more optimally by automating resource allocation and optimization. The startup’s solution uses machine learning algorithms to analyze resource usage patterns and make real-time adjustments. According to the company, the data is collected every 15 seconds and comprises anonymized CPU (main processor) and memory utilization in all global regions and across all cloud providers.

CAST AI provides management services, auto-scaling, and key metrics dashboard insights into how cloud resources — specifically Kubernetes clusters — were being actively provisioned. To do this, the startup’s customers have to connect their Kubernetes clusters to the platform to see suggested recommendations and use techniques for cost reduction. The company will use the investment to develop the product and increase the number of employees.

In March 2023, CAST AI announced about $20M fundraising from Swedish commercial music streaming service Spotify, US graph database platform neo4j, Creandum, and some investors from previous rounds.      

The idea to develop a cloud optimization platform was born when CAST AI founders started their previous company - a provider of cloud-based AI-driven cybersecurity solutions Zenedge. At that company, entrepreneurs encountered the problem of keeping cloud costs under control. In 2018, Zenedge’s founders sold their startup to Oracle. Among Cast AI clients are Hitachi, Forbes, Delio, Surfshark, and others.