Spot News
17 articles
growth-negative
NetApp sells Spot to Flexera for $100 million, four years after $450 million acquisition | CTech
NetApp, a storage giant, is selling the operations of Spot, an Israeli startup it acquired in 2020, to Flexera for approximately $450 million. This sale also includes CloudCheckr, which was acquired by NetApp for a combined total of over $650 million. The sale reflects a strategic shift by NetApp to refocus on its core data infrastructure business, as Spot and CloudCheckrs operations were part of its cloud business, accounting for 10% of its revenue. The divestment is seen as a recognition of the loss in value of these businesses. Flexera aims to enhance its strategic plan by acquiring Spot to provide comprehensive technology spend and risk analysis.
AcquisitionAcquired-by
growth-positive
חברת הענן ספוט תגייס כ-100 עובדים בתפקידים שונים עד לסוף השנה
Israeli cloud services company Spot has announced its expansion and recruitment of employees for various roles. Spot was founded in 2015 by Amiram Shachar and Liran Polak and has offices in Tel Aviv, Sydney, Singapore, India, Berlin, London, New York, and San Francisco. Prior to the expansion, Spot raised $52 million in funding from investors including Haleand Capital, Intel Capital, Vertex Israel, Springtide Ventures, and Pico Ventures. The company currently employs around 200 people. Spot was previously acquired by NetApp, which has a presence in Israel through previous acquisitions of Plexistor and Cognigo.
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growth-positive
From college project to $450m exit
Cloud computing firm Spot was acquired by NetApp for close to $450m, despite Spots CEO and founder, Amiram Shachar, previously refusing at least three takeover bids. Shachar was in the midst of a large funding round at a $300m valuation when he received the call from NetApps VP, Anthony Lee. Spots board of directors wanted to continue as an independent company, but Shachar managed to persuade his shareholders to sell. Spot will now absorb NetApps cloud activity, with Shachar heading the merged activity.
Acquisition
growth-positive
NetApp completes Spot.io acquisition for $450 million
Nasdaq-listed hybrid cloud data services company NetApp Inc. has completed the acquisition of Israeli cloud services company Spot.io for $450 million. Spot.io offers cloud computing optimization services to software-as-a-service (SaaS) companies, using machine learning algorithms to monitor and optimize the use of cloud services. Spot.io will continue to operate as an independent department within NetApp. The acquisition aims to help NetApp customers unlock the best of cloud and gain a competitive advantage. Spot.io has raised a total of $52 million to date and employs 150 workers in its offices in Tel Aviv, London, and San Francisco.
Acquisition
growth-positive
NetApp buys Israeli cloud optimization co Spot for $450m
NetApp, a US hybrid cloud data services company, is acquiring Israeli cloud infrastructure management and cost optimization company Spot for $450 million. Spot assists companies in acquiring and managing best-performing cloud infrastructure capacity, allowing customers to save an average of 80% on their cloud computing costs. The acquisition will enable NetApp to deliver a leading solution for the continuous optimization of cost for all workloads. NetApps previous acquisitions include Onaro and Cognigo. The event described in the article occurred on June 4, 2020.
Acquisition
growth-positive
Spotinst rebrands as Spot and announces new cloud spend dashboard
Spotinst, a startup that helps companies find lower-cost spot instances in the cloud, has rebranded as Spot. The company has also introduced a new cloud usage dashboard to provide customers with greater insight and visibility into their cloud spending. The dashboard allows customers to see all of their cloud spending in one place and optimize their usage across multiple cloud vendors. Spotinsts core competency is helping customers deploy cheaper spot and reserved instances from cloud infrastructure vendors. The company has raised over $52 million and is currently in the $30 million revenue range.
CustomersExpand
growth-positive
Spotinst, the startup enabling companies to purchase and manage excess cloud capacity, acquires StratCloud
Spotinst has acquired AWS partner StratCloud in a deal worth around $5 million. The acquisition allows Spotinst to offer a complete solution for cloud users, including reserved instances and unused computer power. StratClouds team of 15 people, including founder Patrick Gartlan, will join Spotinst. Spotinst will also migrate StratClouds customers to its platform. Spotinst has over 1,500 enterprise customers and has raised $52 million in VC funding.
PartnersCustomers
growth-positive
Spotinst Announces Partnership with Amazon Web Services
Tel Aviv-based cloud computing startup Spotinst Inc. announced a partnership with Amazon Web Services (AWS). Spotinst offers cloud computing optimization services to software-as-a-service (SaaS) companies by monitoring the availability and pricing of the computation power cloud services offer. The company has raised approximately $50 million to date.
Partners
growth-positive
Spotinst launches budget serverless offering for containers
Spotinst has announced a new budget serverless product called Ocean, which offers a cheaper option for developers deploying containerized workloads. The product is 70-85% cheaper than Amazons Fargate and is available on all cloud platforms. Spotinst takes advantage of excess capacity offered by cloud vendors at a discount, using machine learning algorithms to ensure applications do not shut down unexpectedly. The company, founded in 2015, has raised over $56 million in funding.
PartnersInvestment
growth-positive
Spotinst, excess cloud capacity management service, snares $35M Series B
Spotinst, a startup that helps companies purchase and manage excess cloud infrastructure capacity, has raised $35 million in a Series B funding round led by Highland Capital. The total investment in the company now stands at over $52 million. Spotinst uses machine learning and artificial intelligence to predict trends of availability and smoothly move customers from one instance to another, allowing them to run complex or mission-critical applications. The company has seen growth in its containers offering and plans to double its employee count in the next year. Spotinst is not a brokerage service but a cloud service that takes a percentage of the money customers save by using spot capacity.
InvestmentExpand
growth-positive
Cloud Computing Startup Spotinst Looking to Hire 50 Workers in Tel Aviv
Cloud computing startup Spotinst Inc. plans to recruit 50 workers for its Tel Aviv research and development center. The company offers cloud computing optimization services to SaaS companies, monitoring the availability and pricing of computation power offered by cloud services to optimize use by clients. Spotinst raised $15 million in a funding round led by Intel Capital and Vertex Ventures, bringing its total funding raised to $17.6 million. The CEO stated that hiring workers has led to increased sales, with each new feature attracting new clients. Spotinst currently employs 100 workers in Tel Aviv, London, and the U.S.
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growth-positive
Samsung SDS, Spotinst to cooperate on cloud managed services ZDNet
Samsung SDS and Spotinst will collaborate on cloud managed service businesses. Samsung SDS will apply Spotinsts technology into its cloud management platform, Global One View. Customers can see server usage, saved data capacity, and expected costs on one screen. Samsung SDS aims to strengthen its cloud managed services and expand its presence globally. The company already collaborates with Amazon Web Services, Microsoft, and Virtustream. Last year, it announced a partnership with BioCatch and won an order from Seouls municipal government to apply blockchain in governance.
Partners
growth-positive
Spotinst: Making the Most of Cheaper Excess Compute Capacity - The New Stack
Spotinst, a company that uses algorithms to predict AWS Spot Instances behavior, has grown rapidly since its founding three years ago. It has over 500 customers, including Ticketmaster, Sony, Intel, and Verizon. The company recently raised $15 million in a Series A funding round led by Intel Capital. Spotinsts core product, Elastigroup, automates the use of Spot Instances to optimize cost efficiency and eliminate downtime risk. The company also offers load balancing, multicloud monitoring, and function-as-a-service solutions. Spotinst aims to become the largest virtual cloud provider without owning any servers. It faces competition from AWS itself and other serverless providers. AWS Spot Instances are being used in production workloads, providing significant cost savings for customers.
CustomersPartners
growth-positive
Spotinst delivers spot cloud infrastructure services at discount prices
Spotinst, a Tel Aviv-based startup, is offering a service called Function as a Service for serverless computing services like AWS Lambda. This service allows customers to pay only for the computing resources they need when a trigger event occurs, rather than having a server available 24/7. Spotinst uses its algorithms to understand cloud service capacity usage patterns and deliver event-driven computing resources at a cheaper price than big vendors. The company has raised over $17 million, has over 1000 customers, and has recently forged partnerships with Alibaba, IBM, and Equinix. Spotinst aims to provide customers with a wide range of choices for their computing needs.
PartnersExpand
growth-positive
Spotinst raises $15M to help businesses better utilize the cloud
Spotinst, a cloud optimization service, has raised $15 million in a Series A funding round led by Intel Capital. The companys Elastigroup technology allows businesses to blend on-demand, reserved, and spot instances to create a cluster that is always available. Spotinst also helps users better utilize their reserved and on-demand instances. The company has experienced 30% month-over-month growth and manages hundreds of millions of computing hours for its customers. Spotinst is expanding its services with the launch of Spotinst Functions, a platform-agnostic service that competes with Amazons Lambda. The service is currently in private beta and supports major public clouds as well as Packet, IBM, and Oracle.
Investment
growth-positive
Cloud cost management co Spotinst raises $15m
Israeli cloud cost management company Spotinst has completed a Series A financing round of $15 million led by Intel Capital and with the participation of Vertex Venture Capital. The company plans to use the funds to develop its workload management products, expand services in the serverless domain, and expand its marketing and sales offices in San Francisco and London. Spotinsts workload management platform can save customers 80% in their current computing costs.
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growth-positive
Spotinst, which helps you buy AWS spot instances, raises $2m Series A
Spotinst, a company that helps businesses manage the cost and management of spot instances on AWS, has raised a $2 million funding round led by PICO Venture Partners. The company uses advanced machine learning to optimize the spot instance bid process and help customers predict when Amazon will switch off a machine. Spotinst aims to expand operations in the US, invest in R&D efforts to increase its offering on AWS, and start working with Google Cloud and Azure.
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