PointFive, which is developing a cloud cost optimization platform for enterprise companies, announced on Wednesday that it has raised $16 million in seed funding. The round was led by Index Ventures, with participation from Entrée Capital, Sheva Capital, Vesey Ventures, and angel investors, including Wiz CEO and co-founder Assaf Rappaport, Transmit Security CEO and co-founder Mickey Boodaei, former Slack chief product officer Tamar Yehoshua, Rakesh Loonkar, Amiram Shachar, Guy Podjarni, David Politis, Dean Sysman, and other notable angel investors.
The company’s platform aims to uncover significant infrastructure-level savings opportunities and enable enterprise organizations to drive ongoing cloud cost efficiencies through actionable collaborative remediation workflows.
PointFive’s founding team, Alon Arvatz, Gal Ben-David, and Amir Hozez, have been working together for over a decade. The Unit 8200 alumni previously built IntSights, a cybersecurity startup that was acquired by Rapid7 in 2021 for $350 million. The team grew IntSights to global scale with over $30 million in ARR and hundreds of enterprise customers. When they joined Rapid7, they were tasked with reducing cloud costs and quickly realized how challenging it was to track that issue in the enterprise. They saw an opportunity to build a new centralized platform that would seamlessly translate insights into action, and the idea for PointFive was born.
PointFive’s technology typically maps savings opportunities of 15-30% of total cloud spend in a customer’s environment, according to the company.
“In today’s economy, where financial efficiency is crucial and downsizing is the norm, short-term optimization is no longer enough,” said co-founder and CEO Alon Albats. “We founded PointFive to provide engineers and FinOps leaders with the tools to move from reactive fixes to proactive optimization, which is essential for long-term resiliency and adaptability. We understand that cloud cost management is an ongoing strategy, not a one-off tactic. Our technology and innovation digs deeper than any other solution, to not only show our customers where they are, but also help them cross the finish line.”
