CAST AI, a Miami-based startup specializing in automating cloud infrastructure management, has successfully raised $108 million in a Series C funding round. This round was co-led by G2 Venture Partners and SoftBank Vision Fund 2, with participation from Aglaé Ventures and existing investors such as Hedosophia, Cota Capital, Vintage Investment Partners, Creandum, and Uncorrelated Ventures. The oversubscribed funding round values the company at approximately $900 million, bringing its total capital raised to over $180 million.
Founded to address the complexities and costs associated with cloud computing, CAST AI offers a platform that automates the optimization of cloud resources, including CPUs and GPUs. This automation is particularly crucial as organizations increasingly adopt AI tools, which demand significant computational power and can lead to escalating cloud expenses. By leveraging CAST AI’s solutions, businesses can reduce cloud costs and enhance performance through efficient resource management.
The company’s client base has expanded rapidly, now serving 2,100 customers worldwide. Notable clients include Akamai, BMW, FICO, HuggingFace, NielsenIQ, and Swisscom. These organizations utilize CAST AI’s technology to analyze cloud and on-premise capacities, ensuring optimal cost-performance ratios for their compute workloads. The platform integrates seamlessly with major cloud providers and various customer infrastructures, facilitating efficient resource allocation.
The recent funding will enable CAST AI to accelerate research and development efforts and expand its presence in key markets, including the United States and Europe. The company plans to enhance its automation platform, broaden its global reach, and recruit additional talent to support its growth initiatives.
The participation of prominent investors such as SoftBank Vision Fund 2 and Aglaé Ventures underscores the strategic importance of CAST AI’s offerings in the evolving cloud computing landscape. These investors are also involved in significant AI ventures, including OpenAI and the $500 billion Stargate data center project, highlighting the growing demand for efficient cloud infrastructure management solutions.
As the adoption of AI continues to surge, the need for effective cloud resource optimization becomes increasingly critical. CAST AI’s innovative approach positions it as a key player in helping organizations navigate the challenges of cloud cost management and performance optimization.
