Cast AI Receives $35 Million Investment in Series B Round

Cast AI announced that it raised $35 million in a Series B round led by Vintage Investment Partners with participation from Creandum and Uncorlation Ventures. CEO Yuri Frayman stated that the new money will bring Cast AI's total amount to $73 million. At the same time, he stated that it will be transferred to product development and to grow the startup's team of more than 100 employees.

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Co-Founded by Frayman, Leon Kuperman and Laurent Gil

It was jointly launched in 2019 by Frayman, Leon Kuperman and Laurent Gil. The trio's inspiration came from Zenedge, a cloud-based cybersecurity company that Frayman, Kuperman and Gil had previously co-founded (and Oracle acquired in 2018). Using Cast AI, Frayman and his team sought to build a tool that could automatically adjust cloud usage up and down while optimising cost, and provide insights into how cloud resources (particularly Kubernetes clusters) were being actively provisioned. Kubernetes, an open system for automating software deployment and management in environments called "containers", is organised into clusters of machines running software. Cast connects to public clouds such as AWS, Google Cloud Platform and Azure. It uses models to analyse and autonomously adjust these clusters across servers.