Latest news with #G2VenturePartners
Yahoo
01-05-2025
- Business
- Yahoo
Cast AI rakes in $108m in Series C round
Cast AI, an application performance automation (APA) platform, has raised $108m in its Series C funding round to expand cloud automation to more markets. The over oversubscribed round was led by G2 Venture Partners and SoftBank Vision Fund 2. It saw participation from Aglaé Ventures and existing partners Cota Capital, plus Hedosophia, Vintage Investment Partners, Creandum, and Uncorrelated Ventures. By leveraging machine learning algorithms, Cast AI provides real-time analysis and optimisation of clusters, which helps to reduce cloud expenses, secure Kubernetes applications, and enhance DevOps productivity. The latest funding round has propelled the company's valuation to $850m, reported Reuters. Cast AI plans to use the proceeds for enhancing automation platforms and expanding operations. Cast AI CEO and co-founder Yuri Frayman said: 'APA didn't exist five years ago, because we hadn't invented it yet. 'This round fuels our continued expansion of a category we created, and pushes the boundaries of what is possible in cloud automation.' Cast AI CTO and co-founder Leon Kuperman said: 'Enterprises are no longer satisfied with static dashboards and manual tuning knobs. 'They want automation that works out of the box, improves performance continuously, and gets smarter over time. APA is the answer, and this funding enables us to accelerate that promise globally.' Cast AI's platform is designed to help businesses minimise cloud costs and optimise performance by automating the utilisation of cloud resources, including CPUs and GPUs. The company has a global customer base of 2,100 companies, with clients such as Akamai, BMW, FICO, and HuggingFace. Cast AI president and co-founder Laurent Gil said: 'Cast AI now enables the instant deployment of hyper-efficient GPU instances in Kubernetes clusters. As the go-to platform for running AI workloads efficiently, we are committed to driving innovation and helping our clients unlock the full potential of AI. 'We are excited to partner with SoftBank, a company that shares our vision of transforming how businesses harness the power of AI.' "Cast AI rakes in $108m in Series C round" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Nikkei Asia
01-05-2025
- Business
- Nikkei Asia
Cast AI secures $108m funding from SoftBank Vision Fund 2, G2 Venture
(Reuters) -- Cast AI, a Miami-based startup that helps businesses automate cloud infrastructure management, said on Wednesday it has raised $108 million in a late-stage funding round led by G2 Venture Partners and SoftBank Vision Fund 2. The oversubscribed round, which also saw participation from existing investors such as Aglae Ventures, valued the company at $850 million, a person familiar with the matter said.
CNA
30-04-2025
- Business
- CNA
Cast AI secures $108 million funding to expand cloud automation
Cast AI, a Miami-based startup that helps businesses automate cloud infrastructure management, said on Wednesday it has raised $108 million in a late-stage funding round led by G2 Venture Partners and SoftBank Vision Fund 2. The oversubscribed round, which also saw participation from existing investors such as Aglaé Ventures, valued the company at $850 million, a person familiar with the matter said. This brings Cast AI's total funding to over $180 million, as it looks to expand to more markets and cater to growing demand. The company helps businesses reduce cloud costs and improve performance by automating how applications use cloud resources like CPUs and GPUs. Cast AI said demand is rising quickly as more organizations adopt AI tools and struggle with the high cost of cloud computing. "Reducing costs is key. But it's not just about costs—it's about automatically finding the right models and availability of GPUs and CPUs, maintaining performance and cutting costs," Cast AI founder Laurent Gil told Reuters. "Over the past six months, we have seen a major acceleration in demand for Kubernetes automation as AI adoption surged." Kubernetes is an open-source tool that helps manage apps on the cloud. Cast AI counts 2,100 companies around the world as customers and some large clients include Akamai, German automaker BMW, FICO and HuggingFace. The company said the new funding will be used to expand its automation platform, hire more talent and reach more global customers. Its new backers, including SoftBank and G2, also invest in AI companies such as OpenAI and Crusoe Energy Systems. The ChatGPT creator, SoftBank and cloud firm Oracle are key partners behind the $500 billion Stargate project to build several data centers in the United States.
