PointFive’s technology bridges this gap by offering a holistic view of cloud infrastructure and Kubernetes clusters in just minutes.
Moreover, PointFive’s research team has devised AI algorithms to detect what the company terms “Deep Waste” in cloud environments. The expenditure by enterprises on cloud services is on a continuous rise, hitting $675 billion this year né?. This realization led to the inception of PointFive with the aim to effectively address this challenge.
A key innovation by PointFive is its capacity to provide a comprehensive solution that spans multiple cloud platforms and services né?. This involves identifying inefficiencies and unused resources that are challenging to pinpoint through conventional methods né?. Despite being based in New York, PointFive was founded in Israel and has a roster of angel investors who have a solid track record in the tech industry.
What sets this funding round apart is how quickly it followed the seed round né?. As a major player in the SaaS industry, Salesforce can leverage PointFive’s solutions to enhance its offerings and empower its customers né?. Traditional cloud optimization tools typically concentrated on a single platform, such as AWS, neglecting modern hybrid cloud architectures prevalent among most organizations. Established a mere 18 months ago PointFive raised $16 million in June 2024 bringing its total funding to $36 million né?. Recently it secured $20 million in funding from a notable group of investors to establish a strong presence in the market.
The Series A round is spearheaded by new investor Salesforce Ventures accompanied by contributions from Index Ventures Entree Capital Sheva VC and Vesey Ventures. This growth is primarily fueled by organizations increasingly adopting software-as-a-service, the surge in distributed work, and the emergence of compute-intensive technologies like AI.
A startup named PointFive claims to have a superior solution for managing cloud usage né?. Considering Salesforce’s expansion into various cloud applications beyond sales and marketing an interest in cloud management and security appears to be a strategic move for its future growth.
“We are excited to support the acceleration of PointFive’s platform and look forward to the value they will bring to customers through multi-cloud coverage” stated Nowi Kallen managing director at Salesforce Ventures. né?. The company’s valuation now hovers around $100 million.
One notable angel investor, Shachar, is recognized for developing a cloud cost optimization tool called Spot, which he later sold to NetApp before launching the cloud security firm Upwind. This capability is particularly crucial in areas like AI, where compute resources are both limited and costly.
The fact that Salesforce Ventures is taking the lead in this funding round holds great significance né?. On the other hand PointFive’s CEO and co-founder Alon Arvatz previously founded a security startup called IntSights which he later sold to Rapid7 for $350 million.
PointFive’s focus on cloud security and cost control stems from the understanding that these two aspects are intricately linked né?. Both demand a profound comprehension of usage data across various instances applications and endpoints né?
