(Frayman notes that customers who don’t wish to submit their data for training can request that it be deleted.) The models are trained on usage metadata from customers, public cloud pricing and inventory information, and undisclosed “other signals” that cloud providers make available. As our application scaled up, we watched our cloud bill exponentially increase from thousands of dollars to millions of dollars … Our goal was to build the product we wished we had at Zenedge.”Īccording to Frayman, Cast leverages “many models” to drive its cloud usage optimization automation engine, which scales cloud resources up and down in real time while optimizing for cost. “The need for such a platform became clear after we co-founded Zenedge, a cloud-based cybersecurity platform that was ultimately acquired by Oracle.
#Cast help manual
“We decided to build a platform that would help companies automatically optimize and reduce their cloud costs - without manual intervention,” Frayman, who serves as Cast AI’s CEO, told TechCrunch in an email interview. Cast AI customers can connect their cloud plans across AWS, Google Cloud and Azure to see recommendations and have the system implement them automatically. But one of the more successful vendors is Cast AI, which today announced that it raised $20 million in an investment led by Creandum with participation from unnamed existing investors.įounded by Yuri Frayman, Leon Kuperman and Laurent Gil in 2019, Cast AI - powered by AI, as the name implies - analyzes a company’s cloud usage to attempt to find the optimal cost-performance ratio. Surely that’s music to the ears of startups whose tech is designed to reduce cost spend. A report from Wanclouds finds that 81% of IT leaders have been directed by their C-suite to reduce or take on no additional cloud spending.
Unsurprisingly, reducing those costs has become a top priority. According to a recent Anodot survey, 50% of businesses are struggling to control them, in part because they lack visibility into their cloud usage.
Cloud costs remain a top concern for organizations.
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