Spotinst, a Tel Aviv, Israel-based cloud optimization startup, raised $2m in Series A funding.
The round was led by Pico Venture Partners.
The company will use the funds to expand operations.
Led by Amiram Shachar, CEO, Spotinst uses advanced machine learning to provide a cloud utilization optimization platform for both enterprises and startups. The platform features a price prediction algorithm for advance alerting, monitoring of cloud metrics and atypical trend detection, optimal infrastructure utilization, automatic recovery and cost-aware action. It provides an API and UI for high-level reporting as well as a granular view of cloud deployments.
The service currently optimizes cloud-computing deployments on Amazon Web Services and will introduce support for Google Cloud Platform and Microsoft Azure later this year.