The US-Israeli company, based in Tel Aviv and New York, recently raised 58 Million in funds.
ScaleOps, said to be one of the leaders in real-time automated cloud resource management, today announced $58 million in Series B funding led by Lightspeed Venture Partners, with participation from returning investors NFX and Glilot Capital Partners, and new investor Picture Capital.
The round comes just one year after its series A, following tremendous business growth for the company, bringing its total funding to $80M.
Alongside the funding, ScaleOps is launching two new capabilities: AI-powered real-time predictive scaling and intelligent pod placement, which can deliver up to 50% in additional cloud cost savings and improve application performance.
Cloud-native application adoption is growing exponentially, and it’s predicted that by 2029, over 95% of companies will be using containers in production.
“A cloud-native application is a program that is designed for a cloud computing architecture. These applications are run and hosted in the cloud and are designed to capitalize on the inherent characteristics of a cloud computing software delivery model. A native app is software that is developed for use on a specific platform or device.” explains TechTarget.
The problem: In cloud-native production environments, there are hundreds, sometimes thousands, of different applications. This causes painful friction between the different application owners, who are in charge of manually tuning resources, and DevOps teams, who must constantly intervene to maintain proper resource allocation.
“We realized that no one in the market was solving the problem; they were just providing visibility and bringing awareness to it. The process of resource allocation was still completely broken. The only way to solve the problem was to provide a solution that would seamlessly automate cloud resource management in real-time.” said Yodar Shafrir, ScaleOps co-founder and CEO.
Based on the press release of ScaleOps (12.11.2024). Selected as relevant/shortened?augmented?edited by VonNaftali. Pic generated by AI.