The company, which helps customers map out saving opportunities
of 15-30% of their total cloud spend, has launched its platform in
early 2024
TEL-AVIV, June 19,
2024 /PRNewswire-PRWeb/ -- PointFive, a cloud cost
optimization platform for enterprise companies specializing in
uncovering deeper, typically overlooked, cloud waste, announced
today that it has raised $16 million
in seed funding. PointFive redefines cloud cost optimization with
an end-to-end platform that goes far beyond surface insights to
uncover deep, infrastructure-level savings opportunities. PointFive
transforms deep analysis into action, empowering engineers to
exceed industry standards and propel customers beyond the
competition. The round was led by Index Ventures with participation
from Entree Capital, Sheva Capital, and Vesey Ventures, and angel
investors, including Assaf
Rappaport, CEO and Co-Founder at Wiz; Mickey Boodaei, CEO
and Co-Founder at Transmit Security; Tamar
Yehoshua, Former Chief Product Officer at Slack;
Rakesh Loonkar, Amiram Shachar, Guy Podjarni, David Politis, Dean
Sysman and additional notable angels. PointFive will use
this funding to expand its team, invest in R&D, and support
sales and marketing in the US.
"Our technology and innovation goes deeper
than any other solution, and we not only show customers where they
stand, but also help them cross the finish line."
PointFive's unique DeepWaste™ detection technology delves into
the intricacies of cloud spending, revealing hidden, typically
overlooked inefficiencies and providing actionable pathways for
remediation. Beyond deeper insights, PointFive also provides easy,
action-ready next steps for remediation, with workflows designed
for seamless implementation by the engineering team. The platform
fosters proactive collaboration between FinOps and engineers,
empowering them to continuously manage and optimize cloud costs by
uncovering unseen inefficiencies, contextualizing insights for
practical decision-making, implementing actionable workflows that
facilitate effortless remediation and generally cultivating a sense
of cost-awareness within the engineering team.
PointFive goes deeper into AWS cost architecture than
competitors—into services that are not covered by any other player
in the market—and AWS promotes PointFive to its customers because
it understands the value of helping customers optimize their spend.
PointFive's platform not only surfaces architectural cloud cost
issues and how to remediate them, but also aligns it with broader
organizational goals of sustainability and growth. Competitors help
customers see how much they are spending, while PointFive helps
customers deeply optimize for an ongoing, more efficient
infrastructure and so that customers can spend less and reroute
their funds away from waste, and into innovation. That frees up
funds for those customers to invest more in innovation and growing
their business, creating mutually beneficial partnerships across
the board.
"PointFive helped us make a major leap towards our vision of
continuous cloud cost efficiency. Their innovative platform not
only identifies a wide range of saving opportunities—from the
straightforward to the highly complex—but also empowers our
engineers with actionable insights and automation. Partnering with
PointFive has enabled us to delegate cost responsibilities to the
engineers, and improve our overall operational efficiency in the
engineering organization."
Dani Matzlavi, VP of Engineering - Platform Engineering and
Cloud Infrastructure, Blackhawk Network
The PointFive founding team—Alon Arvatz, Gal Ben-David, and Amir
Hozez—have been working together for over a decade and collectively
have over 40 years of cybersecurity experience. A team of repeat
entrepreneurs and 8200 graduates, they previously built IntSights,
a cybersecurity startup acquired by Rapid7 for $350M in 2021. This team brought IntSights to
global scale with over $30M in ARR
and hundreds of enterprise customers. When they joined Rapid7, they
were tasked with reducing cloud costs, and immediately recognized
the difficulty of tracking that problem in the enterprise. It was
there that the idea for PointFive started, as they saw an
opportunity to build a new centralized platform that seamlessly
transformed insight into action. Although building another
cybersecurity company seemed like the more natural path, especially
given how that sector is thriving in Israel, they chose to apply their passion,
perspective and expertise to transforming FinOps. PointFive's
technology typically maps out saving opportunities in customer
environments of between 15-30% of their total cloud spend.
"In today's economy, where financial efficiency is critical and
downsizing common, short-term optimizations fall short," said
co-founder and CEO Alon Arvatz. "We
founded PointFive to equip engineers and FinOps leaders with tools
that enable them to move from reactive fixes to proactive
optimization, which is vital for long-term resilience and
adaptability. We understand that cloud cost management is an
ongoing strategy and not a one-off tactic. Our technology and
innovation goes deeper than any other solution, and we not only
show customers where they stand, but also help them cross the
finish line."
PointFive's research team is also launching its S3DMap, a
pioneering open-source tool designed to revolutionize Amazon S3
storage optimization. Unlike traditional bucket-oriented methods,
S3DMap introduces an advanced, prefix-oriented methodology that
significantly reduces S3 costs through detailed prefix-level
analysis. This innovative approach allows for more precise and
effective management of S3 storage and usage, focusing on
individual prefixes rather than entire buckets.
Optimizing cloud costs has remained a significant and expensive
struggle due to poor visibility, tracking, and minimal
contextualization of engineering activities, which has made it
difficult for businesses to understand and act on cloud cost
implications efficiently. Most of the existing players treat cloud
cost optimization as an issue of visibility rather than one of
urgency, performing high level analysis of cloud spend and
delivering limited and basic recommendations about cloud
inefficiencies. Furthermore, challenges in calibration and
accountability have hindered the adoption of a frugal engineering
approach, thwarting effective cost optimization, misaligning cloud
service usage with strategic business aims, and blocking the
achievement of operational efficiency and meaningful cost
reductions.
"PointFive is positioned at the intersection of evolving
industry dynamics that are making the optimization of spending and
the maximization of value derived from cloud investments a top
priority," said Juriaan Duizendstraal of Index Ventures. "These
evolving industry dynamics include a higher emphasis on
profitability over rapid, high-growth strategies; the evolution of
the FinOps role, which is becoming more technical; and the
transition to an engineering mindset, reflecting a move from
centralized cloud management to empowering application developers.
PointFive is playing a pivotal role in helping enterprises navigate
the cost aspect of cloud services amid these shifts."
For more information about PointFive visit www.pointfive.co.
Further details and access to S3DMap visit S3DMap on GitHub.
About PointFive
PointFive redefines cloud cost management with an end-to-end
platform that goes far beyond surface insights, uncovering deep,
infrastructure-level savings opportunities. PointFive's platform
enables enterprise organizations to promote continuous cloud cost
efficiency through actionable and collaborative remediation
workflows. Backed by prominent investors including Index Ventures,
Entree Capital, Sheva Capital, Vesey Ventures, and notable angel
investors including Assaf Rappaport,
CEO and Co-Founder at Wiz; Mickey Boodaei, CEO and Co-Founder at
Transmit Security; Tamar Yehoshua,
Former Chief Product Officer at Slack; Rakesh Loonkar, Amiram
Shachar and additional notable angels. PointFive empowers
engineering and FinOps teams to optimize cloud spending
effectively. Through its innovative DeepWaste™ detection
technology, PointFive enables organizations to achieve long-term
resilience and efficiency in cloud cost management.
Media Contact
Amber Moore, Moore
Communications, 1 5039439381, amber@moorecom2.com
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SOURCE PointFive