Zesty, an Israeli startup that develops an AI-powered cloud management platform, raised $75 million in a Series B funding round led by B Capital and Series A investor Sapphire Ventures. Zesty has now raised a total of $116 million to date and says that its customer base has grown by 127% from 2021 to 2022 and that the company has tripled its revenue since its Series A funding round held last year.
Zesty was founded in 2018 by CEO Maxim Melamedov and CTO Alexey Baikov who have seen firsthand the complicated issues of maximizing cloud utilization at various periods in their careers. The two set out to create a solution that would be a game-changer for both enterprises and the cloud providers who support them.
The static nature of cloud infrastructure today, explains Zesty, encumbers DevOps with the burdensome task of managing cloud resources in a constantly shifting business environment. DevOps teams burn countless hours trying to make predictions and manual adjustments to ensure their infrastructure efficiently meets application demand. Budgets are further strained as cloud infrastructure spend is expected to hit over $90 billion in 2022 – 22% more than in 2021.
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“The cloud has become the foundation for critical functions for countless companies, but more often than not, DevOps teams are stuck with static infrastructure, like discount program commitments or allocated storage volumes that waste time and money,” said Maxim Melamedov, CEO and co-founder of Zesty. “This situation is no longer tenable in today’s volatile economic environment, or any environment for that matter. DevOps teams shouldn’t be wasting their time babysitting the cloud. That’s why we’re excited to help companies save significant resources, both financial and human. This investment will help us grow our team and further develop our products to meet the exploding demand for greater cloud flexibility.”
Zesty boasts that its suite of products are designed with DevOps teams in mind, providing the “first automated solutions for resource optimization tasks that are traditionally manual and labor intensive.” Their customer base includes hundreds of international companies – including Heap, Gong, Yotpo, Monday, and Wiz.