New York, November 12, 2024 — PointFive, a cloud cost optimization platform, announced it has secured an additional $20 million in Series A funding, bringing total capital raised to $36 million in just 18 months since the company's inception.
Funding Round Details
The round was led by Salesforce Ventures, with participation from existing investors Index Ventures, Entree Capital, Sheva VC, and Vesey Ventures.
Notable angel investors in the round include Assaf Rappaport (Wiz, Adallom), Mickey Boodaei (Transmit Security, Trusteer, Imperva), Tamar Yehoshua (formerly Slack), Yasmin Lukatz (ICON), Amiram Shachar (Spot, Upwind), Dean Sysman (Axonius), Raanan Raz, and Kfir Tishbi (Avalor Security).
Accelerating Multi-Cloud Expansion
The funding accelerates PointFive's mission to enhance engineering efficiency through its proprietary DeepWaste Detection Engine and supports expansion into multi-cloud environments, including recently announced GCP support and upcoming Azure capabilities.
CEO and co-founder Alon Arvatz stated that the company's mission is to empower enterprises to transform cloud cost optimization from a reactive process into a proactive strategy, making cost efficiency a core engineering principle.
Customer Traction and Growth
Within 18 months of launch, PointFive has signed major technology companies as paying customers, including Elastic, BHN, and Checkmarx. The company plans significant expansion of its U.S. team alongside scaled sales and marketing efforts.
DeepWaste Detection Engine
PointFive's DeepWaste engine draws on cyber intelligence-inspired research methodologies to analyze cloud infrastructure at a granular level. It continuously scans environments using advanced AI models to uncover saving opportunities and automated remediation pathways — all without disrupting engineering workflows. The platform identifies 15–30% savings from total cloud spend.
Current platform coverage spans DynamoDB, EKS, VPC networking, EC2, RDS, and S3, enabling optimization across databases, storage, and networking resources.
Investor Perspectives
Nowi Kallen of Salesforce Ventures highlighted that as companies scale rapidly, PointFive's platform ensures enterprises maintain optimal efficiency by surfacing deep cloud inefficiencies, allowing them to focus resources on growing their core business.
About PointFive
PointFive specializes in cloud cost optimization and waste identification using its proprietary DeepWaste Detection Engine, built on cyber-inspired methodologies and advanced AI. The platform provides actionable insights and continuous management solutions that foster collaboration between FinOps and engineering teams.