ScaleOps raises $58M to accelerate fully automated cloud resource management

The real-time resource management platform fully automates cloud resources in production environments, resulting in up to 80% cloud cost savings, increased application reliability, and improved performance through AI-powered algorithms.

NEW YORK and TEL AVIV, Israel, Nov. 12, 2024 /PRNewswire/ -- ScaleOps, the leader in real-time automated cloud resource management, today announced $58 million in Series B funding led by Lightspeed Venture Partners, with participation from returning investors NFX and Glilot Capital Partners, and new investor Picture Capital. The round comes just one year after its series A, following tremendous business growth for the company, bringing its total funding to $80M. Alongside the funding, ScaleOps is launching two new capabilities: AI-powered real-time predictive scaling and intelligent pod placement, which together can deliver up to 50% in additional cloud cost savings and improve application performance.

Cloud-native application adoption is growing exponentially, and it's predicted that by 2029, over 95% of companies will be using containers in production.^[1]

In cloud-native production environments, there are hundreds, sometimes thousands, of different applications. Every application has specific business requirements and dynamic resource consumption patterns, requiring continuous manual adjustments to meet changing demands. Companies fail to efficiently align cloud resources with application demands, leading to millions of dollars in wasted resources and performance and reliability issues.

This causes painful friction between the different application owners, who are in charge of manually tuning resources, and DevOps teams, who must constantly intervene to maintain proper resource allocation.  

ScaleOps solves these challenges with its fully automated, real-time cloud resource management platform powered by AI. By providing its customers with a context-aware platform that leverages the holistic view of the cluster and considers every application's needs, ScaleOps removes the organizational friction between application owners and DevOps teams by fully automating resource allocation to meet real-time demand.

"We realized that no one in the market was solving the problem; they were just providing visibility and bringing awareness to it. The process of resource allocation was still completely broken. The only way to solve the problem was to provide a solution that would seamlessly automate cloud resource management in real-time." said Yodar Shafrir, ScaleOps co-founder and CEO. 

The ScaleOps platform is self-hosted and runs on any cloud provider, on-premise, or air-gapped environment. Installation takes just two minutes. It audits your cloud infrastructure, in read-only mode to instantly reveal potential cost savings before activating automation with a single click of a button.

Today, ScaleOps introduces two new capabilities: predictive horizontal pod auto-scaling, which uses AI to forecast application loads for real-time scaling, ensuring peak performance and efficient scaling down during low demand. Additionally, intelligent pod placement that optimizes resource allocation by considering application constraints and cluster status, reducing the number of active nodes required. Together, these innovations deliver an estimated 50% additional cost savings and improved application performance.

"Using our real-time automation, we are empowering companies to free their R&D teams to focus on innovation while reducing their cloud costs dramatically and improving their application's performance and reliability, a win-win situation," said Shafrir. "We're rapidly evolving to additional fields, and this funding will enable us to accelerate our mission, scaling our platform and team to meet the growing needs of organizations managing cloud-native resources worldwide."

In less than a year since the product was first launched, ScaleOps has experienced rapid growth worldwide. Today, ScaleOps automatically manages the production environments of Fortune 100 companies and industry leaders like Wiz, Outreach, SentinelOne, Maxar, Playtika, Orca Security, Cato Networks, and dozens more.

"ScaleOps is positioned as the clear category leader in cloud resource management, tackling head-on what we see as the most critical challenge in the cloud-native landscape," said David Gussarsky, Partner at Lightspeed Venture Partners. "As the only real-time, fully automated solution trusted by large enterprises in their production environments, ScaleOps addresses one of the most pressing challenges in cloud-native infrastructure today. With organizations facing pressure to control cloud costs while also improving performance, ScaleOps' automation is a breakthrough, and their rapid growth this past year underscores the critical need they are fulfilling in the market."

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^[1] https://www.gartner.com/document/5361263?ref=soirAll&refval-407955430&

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SOURCE Scaleops Labs Ltd.