Miami-based Cast.AI raises $7.7 million round for its new multi-cloud platform
Cast.AI, a Miami-based multi-cloud company that allows developers to deploy, manage and cost-optimize applications in multiple clouds simultaneously, closed its $7.7M seed funding round.
The startup said plans to use the funds to expand sales efforts and continue investing in product development. Florida Funders, TA Ventures and other investors participated in the round.
Co-founded by Yuri Frayman (CEO), Leon Kuperman ( CTO), and Laurent Gil (CPO), Cast AI recently launched its multi-cloud platform that allows its users to mix and match different cloud providers, such as AWS, Azure, and Google Cloud) in one setup. The console is equipped with all features that let users to deploy, manage, and optimize Kubernetes clusters across multiple cloud services. Its beta version of the platform has already attracted over 30 business clients. According to TechCrunch, Cast.AI has 25 employees and expects to double that by the end of 2021.
“From our initial meetings we were impressed with the Cast.AI founders Yuri Frayman and Laurent Gil and their industry knowledge, and past experience in building companies to scale and exit. We believe they are attacking a problem in working across multi cloud environments that most enterprises are just beginning to realize the challenges of working across multiple cloud platforms, and Cast.AI will be the leader as enterprises seek to efficiently solve this dilemma,” said Ryan Whittemore , Chief Investment Officer of Florida Funders. “The USF Seed Capital Fund and the Florida Institute’s Technology Seed Capital Fund are also pleased to invest in Cast.AI and have high expectations for this investment.”
In a blog post this week, Frayman said that after months of hard work the team has launched the beta version of the first platform that solves a problem the team and developers have experienced for years.
“We connect the clouds via a secure network mesh so that any cloud services of one provider are available on any other cloud. No more vendor lock-in, no more cloud waste. You can finally take advantage of everything that AWS, Azure, and Google Cloud have to offer,” Frayman, who has founded multiple startups, said in the post. Frayman was the co-founder and former CEO of Zenedge, an Aventura-based cybersecurity company sold to Oracle in 2018.
This story has been updated. Follow @ndahlberg on Twitter and email her at ndahlbergbiz@gmail.com
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