Monday, July 22, 2024
HomeFunding Cloud Cost Optimization Platform PointFive Secures $16 Mn Seed Funding

[FUNDING NEWS] Cloud Cost Optimization Platform PointFive Secures $16 Mn Seed Funding

PointFive, a cloud cost optimization platform for enterprise companies specializing in uncovering deeper, typically overlooked, cloud waste has raised $16 million in seed funding.

PointFive, a cloud cost optimization platform for enterprise companies specializing in uncovering deeper, typically overlooked, cloud waste has raised $16 million in seed funding.

The round was led by Index Ventures with participation from Entree Capital, Sheva Capital, and Vesey Ventures, and angel investors, including Assaf Rappaport, CEO and Co-Founder at Wiz; Mickey Boodaei, CEO and Co-Founder at Transmit Security; Tamar Yehoshua, Former Chief Product Officer at Slack; Rakesh Loonkar, Amiram Shachar, Guy Podjarni, David Politis, Dean Sysman and additional notable angels.  

Read also – [FUNDING NEWS] Aye Finance Raises Rs 250 Cr Debt Funding From FMO

“In today’s economy, where financial efficiency is critical and downsizing common, short-term optimizations fall short,” said co-founder and CEO Alon Arvatz. “We founded PointFive to equip engineers and FinOps leaders with tools that enable them to move from reactive fixes to proactive optimization, which is vital for long-term resilience and adaptability. We understand that cloud cost management is an ongoing strategy and not a one-off tactic. Our technology and innovation goes deeper than any other solution, and we not only show customers where they stand, but also help them cross the finish line.”

PointFive’s end-to-end platform uncovers infrastructure-level savings opportunities, redefining cloud cost management. PointFive lets engineers use deep insights to outperform competitors and take consumers further.

“PointFive is positioned at the intersection of evolving industry dynamics that are making the optimization of spending and the maximization of value derived from cloud investments a top priority,” said Juriaan Duizendstraal of Index Ventures. “These evolving industry dynamics include a higher emphasis on profitability over rapid, high-growth strategies; the evolution of the FinOps role, which is becoming more technical; and the transition to an engineering mindset, reflecting a move from centralized cloud management to empowering application developers. PointFive is playing a pivotal role in helping enterprises navigate the cost aspect of cloud services amid these shifts.” 

About PointFive

PointFive redefines cloud cost management with an end-to-end platform that goes far beyond surface insights, uncovering deep, infrastructure-level savings opportunities.

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