ScaleOps raises $58M Series B as demand grows for cloud automation solutions
Offering a hands-off approach to cloud optimization, the Israeli startup’s platform automates resource allocation, helping companies avoid wasted spend and performance issues.
ScaleOps, which develops a real-time automated cloud resource management platform, has completed a $58 million Series B funding round. Led by Lightspeed Venture Partners, the round included existing investors Glilot Capital Partners and NFX, as well as new investor Picture Capital, founded by serial entrepreneurs Mickey Boodaei and Dan Amiga. This round, completed a year after the company’s previous fundraising, reflects ScaleOps’ rapid business growth and brings the total funding raised since its inception to $80 million. All funds raised will be added to the company’s capital. The company’s valuation has increased significantly, according to company management, and it is estimated that in the next funding round, ScaleOps may reach a valuation exceeding $1 billion.
Full list of Israeli high-tech funding rounds in 2024
ScaleOps’ automated, real-time cloud resource management platform, powered by AI, provides its customers with a context-aware platform that leverages the holistic view of the cluster and considers every application's needs. ScaleOps removes the organizational friction between application owners and DevOps teams by fully automating resource allocation to meet real-time demand.
In a conversation with Calcalist, Yodar Shafrir, co-founder and CEO of ScaleOps, explained, "The cloud is a dynamic environment with thousands of applications, each consuming resources that constantly fluctuate. Our platform automatically manages these resources, adjusting them in real-time without requiring intervention from development teams, who typically handle this task. By reducing the risk of resource over-allocation, which can lead to either wasted spending or application performance issues, we streamline operations and save costs. Most cloud management solutions merely provide optimization recommendations, leaving developers to implement them. Our approach fully automates this process, freeing up development teams.”
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Shafrir added, "We are expanding our product lineup and will significantly grow our development team based in Israel. Despite the challenges in today’s market, we attracted strong investor interest due to the significant demand for our solutions. The problem we solve—efficient cloud resource management—is one of the most pressing issues in the industry. We’ve achieved strong results even amid the complex circumstances of the past year and are committed to building a category-leading company. Our goal is not acquisition but to establish a lasting, impactful enterprise."
Founded in 2022 by Yodar Shafrir (CEO) and Guy Baron (CTO), ScaleOps has grown rapidly and now supports production environments for Fortune 100 companies and industry leaders, including Wiz, Outreach, SentinelOne, Maxar, Playtika, Orca Security, and Cato Networks. The company currently employs over 60 people across Israel and other international locations.
