Spotinst, a startup that helps companies pay less for their cloud services by accessing excess capacity from cloud computing providers, has raised $35 million in a series B round of funding led by Highland Europe, with participation from Intel Capital, Vertex Ventures, and Leaders Fund. Technology start - up Spotinst has raised $ 35 m to develop its AI system which tells users when discounted excess cloud computing capacity is available from major providers . The series B round was led by Highland Europe and included Intel Capital , Vertex Ventures and Leaders Capital . Intel said it could save users 80 % of their cloud spend by making it easier for them to spot upcoming excess capacity which was often sold at a heavy discount . The firm said it clustered the excess capacity and automatically moved clients ’ applications to another provider when that provider ’s cheaper capacity began .
Technology start - up Spotinst has raised $ 35 m to develop its AI system which tells users when discounted excess cloud computing capacity is available from major providers . The series B round was led by Highland Europe and included Intel Capital , Vertex Ventures and Leaders Capital . Intel said it could save users 80 % of their cloud spend by making it easier for them to spot upcoming excess capacity which was often sold at a heavy discount . The firm said it clustered the excess capacity and automatically moved clients ’ applications to another provider when that provider ’s cheaper capacity began .