Exostellar secures $15M to optimize cloud spend

An overwhelming 82% of companies grapple with cloud spending management, according to Statista while self-estimated wastage in cloud spend stands at 28% this year, per Flexera, indicating a pressing need for cost-optimization strategies.

Enter the world of solutions like Exostellar. This promising startup recently raised $15M in a Series A round led by Celesta and Cambium Capital, with Alpha Intelligence Capital's endorsement. It's now valued at $40M.

• Unique Proposition: Exostellar is a software that regulates compute spending, efficiently shifting workloads between the most affordable cloud infrastructures and aligning with other resource management tools. This tool is designed to anticipate when a cloud provider might terminate an instance and promptly transfer the workload to a costlier standard-rate cloud instance.

• Challenges: Exostellar will be competing in the rapidly expanding FinOps market, which is projected to triple from nearly $1B this year to $2.75B by 2028.

• Goals: Exostellar aims to extend support for GPU instances, venture into public cloud platforms like Azure, Google Cloud, and IBM Cloud and collaborate with major players like Astera Labs, Synopsys, and two U.S. Department of Energy labs.

As the pandemic propels organizations towards online operations, the demand for cloud application servers is high – a trend that Exostellar is poised to capitalize on.