Cloud Computing Startup Spotinst Buys Optimization Company StratCloud
Spotinst uses artificial intelligence to predict and buy discounted unused compute power
Tel Aviv-based cloud computing startup Spotinst Inc. announced Thursday it has acquired cloud optimization startup StratCould Inc. The companies did not disclose the financial terms of the deal. StratCloud’s technology will be integrated into Spotinst’s product later this year, Spotinst said.
Founded in 2015, Spotinst uses artificial intelligence to predict and buy discounted unused compute power. The company has raised $52 million in funding and reports 1,500 customers in more than 50 countries, including Samsung, Ticketmaster, and Wix. Spotinst employs 150 people across offices in Tel Aviv, San Francisco, New York, and London.
StratCloud provides an optimization service that buys, sells, and converts reserved computer capacity. StratCloud founder Patrick Gartlan will join Spotinst as vice president of cloud services, Spotinst said.