San Francisco, California May 20, 2021 (Issuewire.com) - Cloud Metal, an AI startup for cloud infrastructure optimization today announced it has closed a $21M Series A round of financing led by Tiger. Cloud Metal's existing investors joined the round.
Cloud Metal will use the funds to scale research & development, go-to-market, sales, marketing, and customer support initiatives for its Cloud Infrastructure Management platform.
According to the world's leading research and advisory company Gartner, "through 2023, at least 99% of cloud failures will be the customer's fault, up from 95% in 2017." Further, "by 2023, 75% of failures will result from inadequate management of identities, access, and privileges, up from 50% in 2021."
Cloud Metal helps organizations automatically optimize cloud infrastructure for uptime, or cost, or a compromise between the two. Changes for optimization can be made every second. Cloud Metal supports AWS, Microsoft Azure, and Google Cloud Platform.
"Today, customers are using armies of DevOps engineers to optimize and ensure the uptime of their cloud infrastructure. Cloud Metal has developed artificial intelligence to replace these DevOps engineers while ensuring greater reliability," said Anton Kharlamov, CTO and Founder of Cloud Metal.
In a recent survey conducted by global intelligence firm IDC, nearly 80% of companies said they had experienced at least one cloud failer in the past 18 months, and nearly half (43%) reported 10 or more failures.
With the wide-scale adoption of cloud services by organizations, ensuring the continued reliable operations of the infrastructures is critical.
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