Spotinst, The startup, which helps companies find cheaper Spot instances in the cloud, announced today that it has been renamed Spot. A brand new cloud usage dashboard has also been announced, giving companies a detailed view of their cloud spending.
Amiram Shachar, co-founder and CEO of Spot, says the new product should give customers a much better insight and insight into cloud usage and spending.
“With this new product, we offer a more holistic platform that allows customers to see all of their cloud spending in one place – all of their usage, all of their costs, what they spend and do in multiple clouds – and what they can do [to deploy resources more efficiently]”Shachar said to TechCrunch.
Visibility enables customers to see beyond cloud providers and get an overview of how they use cloud resources to optimize their use. This can be useful for the financial side of the home and IT.
“We basically split up our customers’ entire cloud infrastructure and tell them that this is what you should be doing on-premises, that is what you should be doing on reserved instances, and that’s why you should choose on-demand Maintain instances, “he said.
The new product builds on the company’s core competence: customers can automatically provide automated spot and reserved instances from providers of cloud infrastructures.
Spot instances are a product where cloud providers provide their unused resources at a much lower cost, while reserved instances offer a discounted price for purchasing resources in advance at a fixed price. Spot instances, however, have one big catch: if the cloud provider needs these resources, they will be launched. Spot helps in this regard by safely moving the workload automatically to another available Spot instance.
Spot was founded in 2015 and, according to Crunchbase, has raised more than $ 52 million. According to Shachar, the company is in the $ 30 million revenue range, and this new product should help increase that revenue.