Zesty raises $35 million Series A for AI-driven cloud management platform
The Israeli startup has seen revenue increase by 600% in 2021 as businesses become increasingly reliant on the cloud
Zesty, which has developed an AI-driven cloud management platform, announced on Monday a $35 million Series A funding round led by Next47. Joining the round as new investors are Sapphire Ventures and Samsung Next, with participation from returning investor S-Capital, and Lior Elkan’s M-Fund Club. Zesty has now raised $42 million in total since its founding in 2019.
Zesty’s AI-driven auto-scaling technology adapts cloud resources to increase operational efficiencies, helping transform DevOps’ relationship with the cloud by removing the ongoing burden of optimization and freeing them for other tasks.
Zesty CEO Maxim Melamedov and CTO Alexey Baikov. Photo: Irina Unek
Zesty was founded in 2018 by CEO Maxim Melamedov and CTO Alexey Baikov. The two witnessed the complex challenges of optimizing cloud usage first-hand during various points in their career and set out to develop a solution that would be a game-changer for both organizations and the cloud providers that serve them.
Zesty said that it has increased revenue by over 600% in 2021, with dozens of international companies among its customer base – including Israeli unicorns WalkMe, Armis, Yotpo, and Wiz.
“No one wants to have to babysit the cloud, yet cloud resource management has become a huge burden on DevOps teams, who, given the choice between stability, performance, and cost-efficiency, almost always prioritize stability and performance – to the chagrin of the financial department,” said Alexey Baikov, CTO and co-founder of Zesty. “Our automation eliminates this choice, enabling teams to auto-scale infrastructure without any planning, calculating, or manual adjustments. The promise that AI holds for multi-cloud management is enormous, and we’ve barely scratched the surface of what is possible.”
Zesty provides disk management and auto-scaling that shrinks and expands storage volumes according to real-time application needs. This eliminates the need for overprovisioning and reduces storage costs by up to 70%, all while preventing the risks of service degradation and system failure.
“Our tremendous growth and the demand for an autonomous cloud management solution speaks volumes about the utilization challenges companies face,” said Maxim Melamedov, CEO and co-founder of Zesty. “This funding will allow us to grow our team across all departments, further develop our products, and expand our offering in new strategic markets such as the U.S."