ScaleOps, a leader in real-time automated cloud resource management, announced $58 million in Series B funding led by Lightspeed Venture Partners. Returning investors NFX and Glilot Capital Partners and new investor Picture Capital participated in the round, which comes just one year after its series A and follows tremendous business growth for the company. The round brings the company’s total funding to $80 million.
Along with the funding, ScaleOps is launching two new capabilities: AI-powered real-time predictive scaling and intelligent pod placement, which together can deliver up to 50% in additional cloud cost savings and improve application performance.
In cloud-native production environments, there are thousands of different applications. And every application has specific business requirements and dynamic resource consumption patterns, requiring continuous manual adjustments to meet changing demands. Companies often fail to efficiently align cloud resources with application demands, wasting millions of dollars in resources, performance, and reliability issues. This causes friction between the different application owners in charge of manually tuning resources and DevOps teams, who must intervene to maintain proper resource allocation.
ScaleOps addresses these issues with its fully automated, real-time cloud resource management platform powered by AI. And by providing its customers with a context-aware platform that leverages the holistic view of the cluster and considers every application’s needs, ScaleOps removes the organizational friction between application owners and DevOps teams by fully automating resource allocation to meet real-time demand.
The ScaleOps platform is self-hosted and runs on any cloud provider, on-premise, or air-gapped environment. The installation takes just two minutes. Plus, it audits your cloud infrastructure, in read-only mode to instantly reveal potential cost savings before activating automation with a single click of a button.
ScaleOps has introduced two new capabilities: predictive horizontal pod auto-scaling, which uses AI to forecast application loads for real-time scaling, ensuring peak performance and efficient scaling down during low demand. And intelligent pod placement that optimizes resource allocation by considering application constraints and cluster status, reducing the number of active nodes required. Together, these innovations deliver an estimated 50% additional cost savings and improved application performance.
In under a year since the product was first launched, ScaleOps has experienced rapid growth worldwide. And now ScaleOps automatically manages the production environments of Fortune 100 companies and industry leaders like Wiz, Outreach, SentinelOne, Maxar, Playtika, Orca Security, Cato Networks, and dozens more.
KEY QUOTES:
“We realized that no one in the market was solving the problem; they were just providing visibility and bringing awareness to it. The process of resource allocation was still completely broken. The only way to solve the problem was to provide a solution that would seamlessly automate cloud resource management in real-time.”
“Using our real-time automation, we are empowering companies to free their R&D teams to focus on innovation while reducing their cloud costs dramatically and improving their application’s performance and reliability, a win-win situation. We’re rapidly evolving to additional fields, and this funding will enable us to accelerate our mission, scaling our platform and team to meet the growing needs of organizations managing cloud-native resources worldwide.”
– Yodar Shafrir, ScaleOps co-founder and CEO
“ScaleOps is positioned as the clear category leader in cloud resource management, tackling head-on what we see as the most critical challenge in the cloud-native landscape. As the only real-time, fully automated solution trusted by large enterprises in their production environments, ScaleOps addresses one of the most pressing challenges in cloud-native infrastructure today. With organizations facing pressure to control cloud costs while also improving performance, ScaleOps’ automation is a breakthrough, and their rapid growth this past year underscores the critical need they are fulfilling in the market.”
– David Gussarsky, Partner at Lightspeed Venture Partners
