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Posted on 15/09/2023 in Software and IT

Cloud Management Secures $15M

Exostellar, a Santa Clara, California-based provider of a cloud resource optimization and management platform, has raised $15 million in Series A funding. The round was led by Celesta and Cambium Capital, with participation from Candou Ventures and AI Capital Partners.

Founded in 2021 by Tony Shakib, Exostellar's cloud resource optimization and management platform uses artificial intelligence (AI) and machine learning (ML) to help enterprises reduce spending in the cloud while enhancing both operational security and performance. The platform's AI-powered algorithms continuously analyze cloud usage data to identify and optimize underutilized resources. Exostellar also offers a live migration service that allows enterprises to seamlessly move workloads between cloud providers or regions, without any downtime or performance impact.

The company will use the funds from the Series A round to expand operations and to propel its technology into the AI-GPU domain. Exostellar plans to hire more engineers, data scientists, and sales professionals to support its growth. The company also plans to invest in the development of new features for its platform, such as the ability to optimize GPU-intensive workloads.

Exostellar is well-positioned to capitalize on the growing demand for cloud resource optimization and management solutions. The company has a strong team with deep expertise in AI and cloud computing. Exostellar's platform is also well-aligned with the needs of enterprises, as it helps them reduce costs, improve security, and increase performance.

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