Cloud automation and optimization startup Spotinst Inc. has acquired StratCloud Inc. for an undisclosed sum. StratCloud Inc. provides an optimization service that buys, sells, and converts reserved computer capacity.
Founded in 2015, Spotinst helps businesses save up to 90% on their cloud spend by using AI to predict availability of unused cloud capacity. StratCloud said its Reserved Instances provide discounts through committing to usage.
With this acquisition, Spotinst can now offer a complete solution for cloud users offering reserved instances and unused computer power so that enterprises can run any workload and support large scale migrations on any cloud provider. Additionally, the combined technologies provide Managed Service Providers (MSPs) with a tool to optimize cloud workloads for all of their managed customers.
Spotinst is said to have raised $52 million in VC funding. It also boasts of 1,500 customers in more than 50 countries, including Samsung, N26, Duolingo, Ticketmaster and Wix.
StratCloud will be fully integrated into Spotinst’s product later in 2019.