ITHACA, New York, November 7, 2022 — Exotanium, an Ithaca, New York-based business that provides a cloud resource optimization and management platform, said today that it has raised USD 12 million in series A investment. The round, anchored by Cambium Capital and Celesta Capital, offers critical capital to support the company’s future product plan, which includes expanding to additional platforms and hyperscalers and developing a self-service marketplace. Funds will also be directed to marketing and recruitment activities to increase brand recognition among enterprise clients while supporting Exotanium’s technical team’s organizational growth.
Hakim Weatherspoon, co-founder and CEO of Exotanium:
“Our platform provides greater control over cloud computing resources, assisting global organizations in improving operational security, increasing performance, and driving considerable cost savings. Many businesses spend up to half of their income on cloud services, and most systems have severe waste – our groundbreaking technology is changing that. Exotanium will be the first continuous optimization supplier that allows organizations to manage workloads across all major cloud platforms automatically within five years. We appreciate our investors’ ongoing support, since they believe in our team and our innovation.”
Exotanium provides a platform for consumers to optimize cloud computing for improved cost efficiency. It utilizes its exclusive license to patent-pending Cornell University technology mixed with artificial intelligence and machine learning. The technology enables organizations to raise their computer use by up to 5x while maintaining the same budget and improving operational security and computing efficiency. Users may operate their applications in a single cloud environment and live-migrate without service interruption thanks to the extra layer of software. This enables users to shift real-time to the lowest, most efficient server hardware.
Cambium Capital’s Landon Downs stated:
“Exotanium’s solution has the potential to help a wide range of vertical markets. Exotanium has an excellent Customer list, with opportunities to grow, ranging from wins in computer-aided design tools to electronic automated design tools to high-performance scientific applications.”
Exotanium will use the additional money to hire top engineering expertise and expedite its product development. Exotanium is developing application-agnostic products such as X-Spot that allow automated and ongoing optimization. Exotanium’s solution is intended to work with other popular resource management choices, such as Kubernetes and Slurm, providing engineering and DevOps teams with more options and control over cloud expenses. Exotanium intends to offer the platform to more hyperscalers, including Azure, GCP, and IBM, in addition to AWS.
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