Technology start-up Spotinst has raised $ $50 million 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 Europe and included Spotinst , Vertex Ventures and Vertex Ventures . Spotinst said it could save users up to 80 percent of their cloud spend by making it easier for them to spot upcoming excess capacity which was often sold at a heavy discount. “We enable cost optimization through AI. 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 $ $50 million 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 Europe and included Spotinst , Vertex Ventures and Vertex Ventures . Spotinst said it could save users up to 80 percent 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.