CAST AI captures $20M, aims for 10x growth and entrance into new cloud-related verticals

March 24, 2023

Artificial Intelligence, Fund 2

Amid an increasingly uncertain funding environment for startups, cloud cost optimization platform CAST AI today announced that it has raised a $20 million tranche of fundraising. Of this funding, $5 million comes from previous investors, while the remaining $15 million comes from Creandum: an early-stage European VC that has backed companies like Spotify, Klarna and Depop.

CAST AI helps companies right-size their cloud bill by optimizing the amount and type of machines they use at any given time. Clients still use their same cloud provider, but according to CAST AI, their proprietary system is able to reduce their client’s bill by an average of 65% – all without compromising performance.