PointFive, a leading cloud cost optimization platform, announced that it has secured an additional $20 million in Series A funding, bringing the total capital raised to $36 million only 18 months after the company was founded.
The funding round was led by Salesforce Ventures, with participation from all existing investors- including Index Ventures, Entree Capital, Sheva VC, and Vesey Ventures. Investors also include notable angel investors such as Assaf Rappaport (Wiz, Adallom); Mickey Boodaei (Transmit Security, Trusteer, Imperva); Tamar Yehoshua (Ex-Slack); Yasmin Lukatz (ICON); Amiram Shachar (Spot, Upwind), Dean Sysman (Axonius), Raanan Raz and Kfir Tishbi (Avalor Security).
This recent funding round accelerates PointFive’s mission to enhance engineering efficiency through its DeepWaste Detection Engine. It will support the company’s expansion into multi-cloud environments, such as the recently announced GCP support and upcoming Azure capabilities.
PointFive’s platform addresses the challenge of cloud cost management by taking a new approach to identifying hidden or overlooked cost inefficiencies, going beyond the low-hanging fruit, and providing actionable, automated remediation steps that engineering teams can quickly implement.
In just 18 months since launching from stealth, PointFive has signed up major tech companies like Elastic, BHN, Checkmarx, and others as paying customers while scaling its operations and capabilities to meet the growing demand for a new approach to cloud infrastructure and cost management. PointFive plans to significantly expand its team and scale its sales and marketing efforts in the U.S.
PointFive’s DeepWaste engine utilizes deep research methodologies inspired by cyber intelligence. It analyzes cloud infrastructure at a granular level, similar to how threat detection systems identify vulnerabilities in cybersecurity. This approach enables PointFive to find inefficiencies, misconfigured infrastructure, and hidden resource waste that other tools overlook.
Its agentless, read-only solution continuously scans cloud environments. It uses advanced AI models and cyber-like cloud research methodologies to uncover saving opportunities and offer clear, automated pathways to remediate and optimize cost inefficiencies without disrupting engineering workflows. And PointFive identifies savings opportunities of 15-30% of enterprises’ total cloud spend, enabling them to operate more efficiently.
The platform offers a wide range of cloud services, such as DynamoDB, EKS, VPC networking, EC2, RDS, and S3, enabling deep optimization across databases, storage, and networking resources to uncover hidden inefficiencies and drive substantial cost savings.
KEY QUOTES:
“Our mission is to empower enterprises to transform cloud cost optimization from a reactive process into a proactive strategy, making cost efficiency a core principle of sound engineering. This funding will enable us to further advance our technology, which delves deeper than any other solution to expose hidden inefficiencies and drive actionable change. I would like to thank our new investors, as well as those who continue to support us, for their vote of confidence in our platform and vision.”
- Alon Arvatz, CEO and Co-Founder of PointFive
“As companies continue to scale rapidly, PointFive’s platform ensures enterprises maintain optimal efficiency by surfacing deep cloud inefficiencies, allowing them to focus resources on growing their core business. We are excited to support the acceleration of PointFive’s platform and look forward to seeing the value they bring to customers through multi cloud coverage.”
- Nowi Kallen, Managing Director, Salesforce Ventures
“We came to PointFive at the start of a large internal effort to move much of our infrastructure from our data centers to the cloud while refactoring our applications’ architectures to work seamlessly in the cloud. These efforts required us to seek out a single application to monitor new resources being created, historical cloud spend over time, and opportunities to remove cloud waste and optimize our cloud resources. PointFive is pivotal to provide us the visibility we need to monitor resource usage and spend over time while also understanding opportunities where we can optimize our resource utilization.”
- Noam Blidstein, Head of Global IT Operations at Cross River Bank
