Technology

PointFive Raises $16M in Seed Funding To Enable Continuous Cloud Cost Optimization with Deeper Detection and Collaborative Remediation

Published

3 months ago

June 19, 2024

The company, which helps customers map out saving opportunities of 15-30% of their total cloud spend, has launched its platform in early 2024

TEL-AVIV, June 19, 2024 /PRNewswire-PRWeb/ — PointFive, a cloud cost optimization platform for enterprise companies specializing in uncovering deeper, typically overlooked, cloud waste, announced today that it has raised $16 million in seed funding. PointFive redefines cloud cost optimization with an end-to-end platform that goes far beyond surface insights to uncover deep, infrastructure-level savings opportunities. PointFive transforms deep analysis into action, empowering engineers to exceed industry standards and propel customers beyond the competition. The round was led by Index Ventures with participation from Entree Capital, Sheva Capital, and Vesey Ventures, and angel investors, including Assaf Rappaport, CEO and Co-Founder at Wiz; Mickey Boodaei, CEO and Co-Founder at Transmit Security; Tamar Yehoshua, Former Chief Product Officer at Slack; Rakesh Loonkar, Amiram Shachar, Guy Podjarni, David Politis, Dean Sysman and additional notable angels. PointFive will use this funding to expand its team, invest in R&D, and support sales and marketing in the US.

“Our technology and innovation goes deeper than any other solution, and we not only show customers where they stand, but also help them cross the finish line.”

PointFive’s unique DeepWaste™ detection technology delves into the intricacies of cloud spending, revealing hidden, typically overlooked inefficiencies and providing actionable pathways for remediation. Beyond deeper insights, PointFive also provides easy, action-ready next steps for remediation, with workflows designed for seamless implementation by the engineering team. The platform fosters proactive collaboration between FinOps and engineers, empowering them to continuously manage and optimize cloud costs by uncovering unseen inefficiencies, contextualizing insights for practical decision-making, implementing actionable workflows that facilitate effortless remediation and generally cultivating a sense of cost-awareness within the engineering team.

PointFive goes deeper into AWS cost architecture than competitors—into services that are not covered by any other player in the market—and AWS promotes PointFive to its customers because it understands the value of helping customers optimize their spend. PointFive’s platform not only surfaces architectural cloud cost issues and how to remediate them, but also aligns it with broader organizational goals of sustainability and growth. Competitors help customers see how much they are spending, while PointFive helps customers deeply optimize for an ongoing, more efficient infrastructure and so that customers can spend less and reroute their funds away from waste, and into innovation. That frees up funds for those customers to invest more in innovation and growing their business, creating mutually beneficial partnerships across the board.

“PointFive helped us make a major leap towards our vision of continuous cloud cost efficiency. Their innovative platform not only identifies a wide range of saving opportunities—from the straightforward to the highly complex—but also empowers our engineers with actionable insights and automation. Partnering with PointFive has enabled us to delegate cost responsibilities to the engineers, and improve our overall operational efficiency in the engineering organization.”

Dani Matzlavi, VP of Engineering – Platform Engineering and Cloud Infrastructure, Blackhawk Network

The PointFive founding team—Alon Arvatz, Gal Ben-David, and Amir Hozez—have been working together for over a decade and collectively have over 40 years of cybersecurity experience. A team of repeat entrepreneurs and 8200 graduates, they previously built IntSights, a cybersecurity startup acquired by Rapid7 for $350M in 2021. This team brought IntSights to global scale with over $30M in ARR and hundreds of enterprise customers. When they joined Rapid7, they were tasked with reducing cloud costs, and immediately recognized the difficulty of tracking that problem in the enterprise. It was there that the idea for PointFive started, as they saw an opportunity to build a new centralized platform that seamlessly transformed insight into action. Although building another cybersecurity company seemed like the more natural path, especially given how that sector is thriving in Israel, they chose to apply their passion, perspective and expertise to transforming FinOps. PointFive’s technology typically maps out saving opportunities in customer environments of between 15-30% of their total cloud spend.

“In today’s economy, where financial efficiency is critical and downsizing common, short-term optimizations fall short,” said co-founder and CEO Alon Arvatz. “We founded PointFive to equip engineers and FinOps leaders with tools that enable them to move from reactive fixes to proactive optimization, which is vital for long-term resilience and adaptability. We understand that cloud cost management is an ongoing strategy and not a one-off tactic. Our technology and innovation goes deeper than any other solution, and we not only show customers where they stand, but also help them cross the finish line.”

PointFive’s research team is also launching its S3DMap, a pioneering open-source tool designed to revolutionize Amazon S3 storage optimization. Unlike traditional bucket-oriented methods, S3DMap introduces an advanced, prefix-oriented methodology that significantly reduces S3 costs through detailed prefix-level analysis. This innovative approach allows for more precise and effective management of S3 storage and usage, focusing on individual prefixes rather than entire buckets.

Optimizing cloud costs has remained a significant and expensive struggle due to poor visibility, tracking, and minimal contextualization of engineering activities, which has made it difficult for businesses to understand and act on cloud cost implications efficiently. Most of the existing players treat cloud cost optimization as an issue of visibility rather than one of urgency, performing high level analysis of cloud spend and delivering limited and basic recommendations about cloud inefficiencies. Furthermore, challenges in calibration and accountability have hindered the adoption of a frugal engineering approach, thwarting effective cost optimization, misaligning cloud service usage with strategic business aims, and blocking the achievement of operational efficiency and meaningful cost reductions.

“PointFive is positioned at the intersection of evolving industry dynamics that are making the optimization of spending and the maximization of value derived from cloud investments a top priority,” said Juriaan Duizendstraal of Index Ventures. “These evolving industry dynamics include a higher emphasis on profitability over rapid, high-growth strategies; the evolution of the FinOps role, which is becoming more technical; and the transition to an engineering mindset, reflecting a move from centralized cloud management to empowering application developers. PointFive is playing a pivotal role in helping enterprises navigate the cost aspect of cloud services amid these shifts.”

For more information about PointFive visit www.pointfive.co.

Further details and access to S3DMap visit S3DMap on GitHub.

About PointFive

PointFive redefines cloud cost management with an end-to-end platform that goes far beyond surface insights, uncovering deep, infrastructure-level savings opportunities. PointFive’s platform enables enterprise organizations to promote continuous cloud cost efficiency through actionable and collaborative remediation workflows. Backed by prominent investors including Index Ventures, Entree Capital, Sheva Capital, Vesey Ventures, and notable angel investors including Assaf Rappaport, CEO and Co-Founder at Wiz; Mickey Boodaei, CEO and Co-Founder at Transmit Security; Tamar Yehoshua, Former Chief Product Officer at Slack; Rakesh Loonkar, Amiram Shachar and additional notable angels. PointFive empowers engineering and FinOps teams to optimize cloud spending effectively. Through its innovative DeepWaste™ detection technology, PointFive enables organizations to achieve long-term resilience and efficiency in cloud cost management.

Media Contact

Amber Moore, Moore Communications, 1 5039439381, amber@moorecom2.com

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SOURCE PointFive

Technology

Siemon Announces Optical Patching Solutions for GenAI Networks Using NVIDIA Accelerated Computing

Published

5 hours ago

September 22, 2024

Siemon announces it is offering its full range of optical patching solutions to work specifically with NVIDIA AI infrastructure for generative AI networks.

WATERTOWN, Conn., Sept. 22, 2024 /PRNewswire-PRWeb/ — The Siemon Company, a global leader in network infrastructure solutions, today announced it is offering its full range of optical patching solutions to work specifically with NVIDIA AI infrastructure for generative AI networks. Large complex GPU clusters can benefit from using structured cabling patch panels versus point-to-point cabling. Siemon acts as a trusted advisor to customers by providing expert advice and best practice recommendations for design & deployment of NVIDIA AI Infrastructure.

“Siemon is very familiar with NVIDIA reference architectures and has worked with many customers to design and deploy NVIDIA clusters… Siemon offers a full range of AI-ready fiber cabling, DAC, and AOC solutions that support 400G, 800G, and 1.6T applications.”

As part of the solution integration, Siemon has joined the NVIDIA Partner Network (NPN) as a Solution Advisor Consultant. NPN Solution Advisor Consultants provide consultation services and expert advice to customers looking to implement NVIDIA-based solutions or technologies. Siemon joins the network to offer its expertise in addressing the unique infrastructure and cabling challenges presented by accelerated computing.

NVIDIA optical reach specifications are calculated assuming two optical patch panels are used in the link and assuming each employ two optical connectors, which makes for a total allowance of four optical connectors in the link. The Siemon optical patching solutions meet NVIDIA requirements and provide customers with flexibility and ease of management.

Media Contact

Brian Baum, Siemon, 1 8609454200, brian_baum@siemon.com

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SOURCE Siemon

Technology

AMSimpkins & Associates Awarded Wisconsin Technical Purchasing Consortium Contract RFB 25-002TP – for Identity Verification Solutions

Published

6 hours ago

September 22, 2024

AMSimpkins & Associates has been awarded the Wisconsin Technical Colleges Purchasing Consortium (WTC-PC) contract for Identity Verification Solutions. This partnership includes providing their advanced S.A.F.E. (Student Application Fraudulent Examination) platform to 16 Wisconsin technical colleges, enhancing security and safeguarding against fraudulent student applications. With a focus on higher education, AMSA aims to support these institutions in maintaining the integrity of their admissions processes and preventing identity fraud. This collaboration underscores AMSA’s commitment to delivering innovative solutions tailored for the education sector.

ATLANTA, Sept. 22, 2024 /PRNewswire-PRWeb/ — AMSimpkins & Associates is proud to announce its selection by the Wisconsin Technical College System Purchasing Consortium (WTC-PC) to provide Identity Verification Solutions through the S.A.F.E. platform. The WTC-PC comprises 16 independent, publicly funded two-year technical colleges across Wisconsin, including Blackhawk Technical College, Chippewa Valley Technical College, Fox Valley Technical College, and Milwaukee Area Technical College, among others.

“We are honored by the Wisconsin Technical College Consortium’s trust in AMSA. This partnership further emphasizes our commitment to providing secure, innovative identity verification solutions that support the needs of educational institutions in protecting their students and operations.”

With a focus on preventing identity fraud, AMSimpkins & Associates’ comprehensive solutions will strengthen the security measures across admissions, enrollment, and financial aid processes, ensuring secure verification and compliance with federal and state regulations. S.A.F.E. will now support Wisconsin’s higher education system, offering its cutting-edge technology to streamline operations and safeguard student data.

“We are honored by the Wisconsin Technical College Consortium’s trust in AMSimpkins & Associates,” said Maurice Simpkins, President and Founder. “This partnership further emphasizes our commitment to providing secure, innovative identity verification solutions that support the needs of educational institutions in protecting their students and operations.”

As part of this agreement, AMSimpkins & Associates will deliver comprehensive services, including system integration, training, and ongoing support to ensure seamless implementation. S.A.F.E.’s capabilities are designed to evolve with growing threats of fraudulent activities, keeping institutions one step ahead in securing student identities.

Institutions in the Wisconsin Technical College System:

Blackhawk Technical CollegeChippewa Valley Technical CollegeFox Valley Technical CollegeGateway Technical CollegeLakeshore Technical CollegeMadison Area Technical CollegeMid-State Technical CollegeMilwaukee Area Technical CollegeMoraine Park Technical CollegeNicolet Area Technical CollegeNorthcentral Technical CollegeNortheast Wisconsin Technical CollegeNorthwood Technical CollegeSouthwest Wisconsin Technical CollegeWaukesha County Technical CollegeWestern Technical College

The S.A.F.E. platform’s advanced identity verification services will play a pivotal role in securing sensitive data and ensuring a safe and fraud-free environment for Wisconsin’s technical colleges and their students.

For more information about AMSimpkins & Associates and the S.A.F.E. platform, please visit amsa-highered.com.

Media Contact

LAQWACIA SIMPKINS, AMSimpkins & Associates, 1 6786824193, LSIMPKINS@AMSA-CONSULTING.COM, amsa-highered.com

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SOURCE AMSimpkins & Associates

Technology

Shijingshan: Committed to High-Level Openness

Published

11 hours ago

September 22, 2024

BEIJING, Sept. 22, 2024 /PRNewswire/ — Following the third plenary session of the 20th Central Committee of the Communist Party of China, China successfully hosted its first national-level international large-scale fair—the China International Fair for Trade in Services (CIFTIS) 2024, which concluded on September 16. The event featured exhibitors from 85 countries and international organizations, participating under their national governments or headquarters, with over 450 Fortune Global 500 companies and industry leaders showcasing their offerings both online and offline.

Adhering to the open, cooperative and mutually beneficial principle, the CIFTIS injects new momentum into global economic development through concrete actions. As one of the “dual venues” for the fair, Shijingshan District hosted a variety of business activities, including exhibitions, negotiations, and conferences. While providing meeting organization services, it showcased the achievements of Shijingshan in fostering openness and development. By leveraging the Fair’s platform, Shijingshan seeks to promote its developmental advantages globally and aims to attract more partners to this welcoming district for mutually beneficial and win-win cooperation.

Presenting Achievements in Open Cooperation and Development in Multiple Dimensions

This CIFTIS’s Shougang Park venue is composed of nine thematic exhibitions, including telecommunications, computer and information services; financial services; culture & tourism services; education services; sports services; supply chain & business services; engineering consulting & construction services; health services; and environmental services. It circles around cultivating new quality productive forces while showcasing the latest achievements, technologies, and applications in the digitalization, intelligentization, and greening of services trade, creating a “debut stage” for global services trade.

Shijingshan leverages its strengths by organizing five thematic exhibitions and four promotional booths on-site. The culture & tourism services exhibition promoted Shijingshan’s rich culture and tourism resources, while also building a support area for paired assistance to highlight its revitalization efforts to a global audience. The financial services exhibition showcased its achievements in economic development across five sectors, that is, sci-tech finance, green finance, inclusive finance, pension finance, and digital finance. The exhibition of telecommunications, computer and information services highlighted the growth of Shijingshan’s the artificial intelligence large model industry cluster and key humanoid robot enterprises. In addition, the primary and secondary school science education experimental zone invited participation from six national-level science education centers, including Shijingshan District, to display their accomplishments. Four schools, including the Beijing National Day School Shijingshan, showcased their scientific research and learning outcomes through visual presentations and videos, while also engaging visitors in interactive science experiments.

The AIES Beijing Open is made up of four competition areas, virtual cycling, virtual rowing, virtual dance, and virtual table tennis. The event welcomed international competitors, domestic professional athletes, high-level amateurs, and university students, while showing the achievements of the “digital + sports” industry. Besides, four promotional booths focused on taxation, justice, investment, and commerce showcases Shijingshan’s tax and judicial policies, offering one-stop policy guidance for participating businesses and visitors. These booths also clarified investment promotion policies, creating a unique event that integrates commerce, tourism, culture, and sports.

Working Together for Global Open Cooperation and Development

The Open Cooperation Forum 2024 was held on the afternoon of September 13. Experts, scholars, government representatives, and business leaders from both domestic and international backgrounds gathered at the Shougang Park to engage in in-depth discussions on promoting high-level open cooperation and supporting regional economic development. Shijingshan District is committed to taking industrial transformation as the strategic foundation for its initiatives, establishing several distinctive industrial parks, including the Intelligent Technology Park, Industrial Internet Park, Virtual Reality Park, Science Fiction Industry Cluster, and Artificial Intelligence Large Model Cluster. What’s more, the district is focusing on new opportunities in future information, future health, future manufacturing, and future space, continually enhancing its innovation capacity, development vitality, economic strength, and overall competitiveness.

It is dedicated to expanding openness as a key driver for integrating into the capital’s new development pattern. The district capitalizes on a range of policy opportunities, including the construction of Beijing’s two zones, effectively leveraging the role of expanding services and deepening economic reforms. It continues to optimize the business environment, actively participates in organizing the CIFTIS, and develops high-standard international cooperation zones to provide a broad platform and efficient services for enterprises to settle and cluster. Shijingshan aims to implement high-level openness to promote high-quality development, enhance mechanisms for foreign openness, innovate and elevate services trade, and align with international economic and trade standards, creating a premier business environment characterized by marketization, rule of law, and internationalization.

Three parallel forums took place during this CIFTIS. With the theme of “Leveraging Overseas Strength for Development • Pursuing Broad Horizons Through Innovation”, the Dream Incubator of Overseas Chinese Beijing Forum set up ten sub-venues abroad, aiming to enhance the involvement of overseas Chinese’s capital and expertise in Beijing’s high-quality development. The Artificial General Intelligence Computility Forum focused on “Releasing New Quality Productive Forces with Unbounded Intelligence and Computational Foundations”, where industry experts and scholars explored new possibilities in artificial general intelligence computility. The Digital Energy Development Forum 2024, themed as “Energizing the Future with Digital Innovation”, showcased a range of quality development achievements and finalized partnerships for several high-quality projects, uniting all parties to advance digital innovation and development.

The rich array of side events is one of the highlights of this CIFTIS. The International Open Cooperation Promotion Conference circled around developing the international open cooperation zone, drawing representatives from international organizations, leading global companies, and prospective businesses seeking to establish a presence in these areas. It centered on the advantages of Shijingshan’s key industries to attract target enterprises. Furthermore, the Roundtable Discussion of Foreign-Funded Enterprises engaged representatives from international organizations, business associations, and foreign-funded companies from countries like Malaysia, Singapore, and France to explore collaboration in aligning with high-standard international economic and trade rules, as well as market access in the service sector, sharing the successes of modernization with Chinese characteristics.

To enhance the consumer experience for attendees of the CIFTIS, Shijingshan has expanded its comprehensive service offerings in areas such as food, accommodation, transportation, tourism, entertainment and shopping. The Second “Here I Am for CIFTIS” Shijingshan Culture and Tourism Carnival has been significantly upgraded, evidenced by the “Divine Beasts Ascend to Immortal Mountain”: Enchanting Night Tour in Shijing Mountain. The “Surprises Await in Shijingshan. Hey There, CIFTIS!” promotional event was held during the 14th Shijingshan Consumption Festival. This included online surprise announcements and a consumption map showcasing quality shopping venues. Special surprise floats were on display, with oversized themed shopping bags distributed. Shopping centers like Joy City, Xirondo Plaza, Modern Plaza, and Chang’an Mills in Shijingshan also launched supporting promotional activities. Business tours in Shijingshan offered three dedicated routes, inviting exhibitors from digital technology, finance and insurance, culture and tourism, and sports related industries to explore relevant industrial parks and attractions for in-depth exchanges.

The China International Fair for Trade in Services 2024 has successfully concluded. Utilizing this platform, Shijingshan has once again showed its high-quality development achievements and favorable business environment to a global audience. We look forward to collaborating with more partners in an open and inclusive manner to create a win-win future.

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SOURCE Open Cooperation Forum