Spotinst, a Tel Aviv, Israel-based cloud workload management company, raised $15M in Series A funding.
The round was led by Intel Capital with participation from Vertex Ventures and Springtide Ventures.
The company intends to use the funds to continue to grow operations and expand its business reach.
Founded by CEO Amiram Shachar; Chief Architect Liran Polak; and Aharon Twizer, CTO, Spotinst provides a machine learning-based virtual IaaS platform that allows enterprises and startups to gain cloud workload management capabilities. Its core technology is based on a predictive algorithm that delivers the most effective cloud option, ensuring reliability and stability, while saving customers cloud computing costs.
Spotinst works with Amazon Web Services and recently introduced support for Google Cloud Platform and Microsoft Azure.