PointFive Raises $20M to Boost Cloud Cost Optimization

PointFive has secured $20 million in Series A funding to advance its cloud cost optimization platform. Led by Salesforce Ventures, with backing from Index Ventures and others, this round elevates PointFive's total capital to $36 million in just 18 months since its founding.

The funds will accelerate the development of PointFive's DeepWaste™ Detection Engine, which enhances efficiency in multi-cloud environments, including Google Cloud Platform support and upcoming Azure capabilities. The platform aims to transform cost optimization into a proactive strategy, addressing inefficiencies that traditional tools often miss.

PointFive serves major clients like Fanatics and Elastic, and plans to expand its US sales and marketing operations. Its solution identifies 15-30% savings in cloud spending, leveraging AI to detect inefficiencies and offer automatic remediation without workflow disruption.