The amount companies spend on cloud computing annually is on course to hit $600 billion by the end of 2023. While cloud providers are attempting to find solutions, it's not their core business and companies find themselves spending huge amounts of time and effort optimizing their cloud use and reselling unused resources. Antimetal wants to fix this, providing a machine-learning led platform that can analyze potential savings opportunities in a company's cloud use and cut costs by up to 75%.
Antimetal's platform detects what spare resources exist and scans the marketplace for unused cloud assets to find the optimal way to package the resources so they will be taken swiftly. It then automatically lists them, cutting out a lot of manual analytical and admin work, and achieving sales faster than the 90 day average for cloud resources listed on the AWS marketplace. These cost savings add up to thousands or even millions for the larger enterprises, and Antimetal has swiftly gained a customer base of over 30 companies within its first months of launching.
Antimetal's solution has clearly caught the eye of investors, and the company has recently closed a seed investment round. It plans to use these funds to expand the company, doubling its headcount over 2023. With an innovative solution to a pressing (and expensive) problem, Antimetal is well poised to grow into a significant business in this space.
Kirsty
Company Specialist at Welcome to the Jungle
