PointFive snaps up $20M for breakthrough tech to track usage across multiple clouds
Enterprise spend on cloud services continues to go up, up, up — to the tune of $675 billion this year
Enterprise spend on cloud services continues to go up, up, up — to the tune of $675 billion this year — thanks to organizations’ firm embrace of software-as-a-service, the popularity of distributed working, and the arrival of compute-intensive tech like AI. A startup called PointFive that believes it has found a better way to get a grip on that usage, and today it’s announcing $20 million in funding from an impressive list of backers to help it square up to the market.
New backer Salesforce Ventures is leading the Series A, with Index Ventures, Entree Capital, Sheva VC, and Vesey Ventures also participating. The company, headquartered in New York but founded out of the Israeli tech scene, has a long list of angel-founders who have taken a similar route themselves. They include Assaf Rappaport of Wiz, Mickey Boodaei, Tamar Yehoshua, Yasmin Lukatz, Dean Sysman, Raanan Raz, Kfir Tishbi and Amiram Shachar — who himself is raising a $100 million round for his current startup, the cloud security firm Upwind.
The round is also notable for how quickly it has come on the heels of its seed round. The company is only around 18 months old and announced $16 million led by Index in June 2024 (bringing the total raised now to $36 million). We understand that PointFive’s valuation is now in the region of $100 million.
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675 billion. Who's doing this investment here😳 there's a lot of money on planet Earth. AI is the start player for all the investor motivation to invest