Cloud Computing Startup Spotinst Looking to Hire 50 Workers in Tel Aviv

Cloud computing startup Spotinst Inc. is looking to recruit 50 workers for its Tel Aviv research and development center, according to co-founder and CEO Amiram Shachar.

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Founded in 2015, Spotinst offers cloud computing optimization services to software-as-a-service (SaaS) companies. Using machine learning algorithms, Spotinst monitors the availability and pricing of computation power offered by cloud services to optimize use by clients. Spotinst’s technology is available for cloud services including Amazon Web Services, Microsoft's Azure, and Google Cloud.

In July, Spotinst raised $15 million in a round led by Intel Capital and Vertex Ventures, bringing the company’s total funding raised to $17.6 million.

“Every time we hired a worker our sales went up,” Mr. Shachar said in an interview with Calcalist conducted at a three-day conference held last week in Palm Desert, California by Intel's venture arm Intel Capital. Developers “pay for themselves” in just two months, as each new feature attracts new clients, he added.  

Spotinst currently employs 100 workers in Tel Aviv, London, and the U.S.

Calcalist's reporter was invited to the conference as a guest by Intel.