PointFive, a Tel Aviv, Israel-based cloud cost optimization platform provider, raised $16M in Seed funding.
The round was led by Index Ventures with participation from Entree Capital, Sheva Capital, and Vesey Ventures, and angel investors, includingĀ Assaf Rappaport, CEO and Co-Founder at Wiz, Mickey Boodaei, CEO and Co-Founder at Transmit Security,Ā Tamar Yehoshua, Former Chief Product Officer at Slack, Rakesh Loonkar,Ā Amiram Shachar, Guy Podjarni,Ā David Politis,Ā Dean SysmanĀ and others.
The company intends to use the funds to expand its team, invest in R&D, and support sales and marketing in the US.
Led by Alon Arvatz, Gal Ben-David, and Amir Hozez, PointFive empowers cloud cost management with an end-to-end platform that enables enterprise organizations to promote continuous cloud cost efficiency through actionable and collaborative remediation workflows. It allows engineering and FinOps teams to optimize cloud spending effectively. PointFive’s DeepWasteā¢ detection technology delves into the intricacies of cloud spending, revealing hidden, typically overlooked inefficiencies and providing actionable pathways for remediation.
PointFive’s research team is also launching itsĀ S3DMap, an open-source tool designed to improve Amazon S3 storage optimization by introducing an advanced, prefix-oriented methodology that reduces S3 costs through detailed prefix-level analysis.
FinSMEs
19/06/2024