We first got to know Spotinst at Reinvent 2017 and were immediately impressed by their drive and vision to change the way that compute is consumed in the cloud.
The founders, Amiram, Liran and Aharon, spoke of a world where compute was optimized for companies intelligently, regardless of whether you were running on VMs, containers or FaaS, and regardless of which cloud provider you chose. Without devops having to think about it, workloads should run at the lowest cost, highest availability, and right level of compute performance. This vision aligned with ours, which is why we were so excited to invest initially, and why we are so excited to invest again in their latest $35M round led by Highland Capital Partners.
Spotinst helps businesses manage their compute infrastructure across different cloud providers, while achieving savings of 80% on average on regular cloud computing costs. They do this by tapping into excess compute capacity in data centres operated by Amazon Web Services, Microsoft Azure and Google Cloud.
Their flagship product offering, Elastigroup, supports all instance types and promises a 100% uptime at the lowest rates possible by optimizing instances based on customer preference and availability/price predictions. As organizations increasingly depend on cloud computing, Spotinst is primed to be a market leader, helping organizations dramatically decrease their spend and operational complexity.
Since founding in 2015, Spotinst has experienced tremendous growth internationally with clients such as Sony, Samsung, Intel, Unilever, and Ticketmaster.
We look forward to tapping into our collective experience at Leaders Fund to continue working closely with Spotinst, and help it become the storied company we believe it can be.