Exotanium Inc., a startup focused on optimizing cloud resources, announced that it has closed a USD 12 million Series A round of funding led by Cambium Capital and Celesta Capital, and that it now has the money it needs to support its future product roadmap.
The company claims that its cloud infrastructure optimization tools can help businesses save a lot of money while also improving performance and security. Its platform, which is based on patent-pending technology created at Cornell University, is said to enable businesses to use up to five times as much computing power while maintaining the same budget.
In order to give customers a much finer level of control over the cloud computing resources they use, Exotanium claims it achieves this by utilizing artificial intelligence and machine learning algorithms.
Read More: Exotanium raises $12M to optimize cloud efficiency while reducing costs by up to 90%
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