Exotanium, an Ithaca, NY- and Santa Clara, CA-based provider of a cloud resource optimization and management platform, raised $12M in Series A funding.
The round was led by Cambium Capital and Celesta Capital. With this series A round, Exotanium has generated $19m to date from investors and grants. This includes $5m in seed funding in Q2, April 2021, led by Walden International and Nepenthe Capital LLC, previous investment rounds including Red Bear Angels and LaunchNY, and $1.6m secured through grants from the United States Department of Energy and the National Science Foundation.
The company intends to use the funds to recruit engineering talent, accelerate its product roadmap, expanding its platforms and marketing and recruitment efforts to further accelerate brand awareness.
Led by CEO Hakim Weatherspoon, Exotanium offers a platform for users to optimize cloud computing, leveraging its exclusive license to patent pending technology developed at Cornell University, combined with artificial intelligence and machine learning. The platform helps enterprises increase the amount of computing they use while also enhancing both operational security and computing performance. With the added layer of software, users can run their application in one cloud environment and live-migrate without disruption of service. With product lines such as X-Spot, the company is creating application agnostic products that provide automatic and continuous optimization. The technology is designed to work alongside other resource management options like Kubernetes and Slurm, giving engineering and devops teams more options and control over cloud costs. In addition to AWS, Exotanium plans to bring the platform to additional hyperscalers, including Azure, GCP, and IBM.
The portfolio of customers included the United States Department of Energy National Laboratories, Argonne, and Idaho National Laboratory.
FinSMEs
08/11/202