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Funding
PointFive raises USD 16 million in seed funding to expand team and product development
Cloud Optimization Tools
Jun 18, 2024
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Cloud Optimization Tools

Cloud Optimization Tools

Jun 18, 2024

PointFive raises USD 16 million in seed funding to expand team and product development

Funding

  • PointFive, a cloud cost optimization platform catering to enterprise companies, raised USD 16 million in a seed funding round led by Index Ventures, with participation from Entree Capital, Sheva Capital, Vesey Ventures, and angel investors including Assaf Rappaport, Mickey Boodaei, Tamar Yehoshua, and others.

  • The funds will be used for recruitment, investment in research and development, and to support sales and marketing efforts, particularly in the US market, where PointFive plans to launch operations in the first half of 2024. 

  • Founded in 2023, PointFive utilizes its DeepWaste detection technology to identify infrastructure-level cloud cost inefficiencies, offering 15%–30% savings on total cloud spend.

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