Cast AI Secures $108M Funding to Optimize AI and Cloud Workloads

Cast AI, a Miami-based startup specializing in cloud workload optimization, has secured a $108 million Series C funding round. The investment, co-led by G2 Venture Partners and SoftBank Vision Fund 2, propels the company toward a near-unicorn valuation of around $900 million.

The company focuses on improving efficiency in AI, Kubernetes, and cloud workloads, addressing the growing demand for better resource allocation. “It’s all about GPU, compute, and electricity,” said CEO Yuri Frayman. “Our play is to ensure we create efficiency to promote more workloads across GPUs.”

Cast AI’s technology helps businesses analyze cloud and on-premise capacity to find the optimal cost-performance ratio. Major clients include BMW, Hugging Face, and Swisscom. The startup claims that, on average, only 10% of CPUs and 23% of memory are utilized, highlighting the need for smarter resource management.

Founded in 2019, Cast AI has grown rapidly, now serving 2,100 customers across industries. The new funding will fuel R&D and global expansion, particularly in the U.S. and Europe, where most of its development is based.

Investors see Cast AI as a key player in the AI infrastructure space. “Cast AI is setting a new standard for cloud efficiency,” said Tim Yap of SoftBank. Meanwhile, Carl Fritjofsson of Creandum noted, “Cast was an AI agent before we started talking about that technology.”