Granulate Secures $12M in Series A Funding
TEL AVIV, Israel, April 22, 2020 /PRNewswire/ -- Granulate, an Israeli based company that optimizes infrastructure and workload performance in real-time and allows businesses to cut compute costs and increase revenue, announced today that it has raised $12 million in Series A funding. The round was led by Insight Partners, one of the largest global funds focused on investing in ScaleUp software companies, with participation from TLV Partners and Hetz Ventures. Following the investment, Lonne Jaffe, Managing Director at Insight Partners will join Granulate's Board of Directors.
The Series A round brings total capital raised to date to $15.6 million. This new capital will support Granulate's growth and global expansion, with the goal of helping more businesses around the world achieve optimized infrastructure performance and efficiency. The investment will also be used to triple the company's workforce and expand all departments from research and development (R&D) to sales and marketing.
"Even though companies invest heavily in their IT infrastructure, most operate at low IT infrastructure utilization rates due to strict quality of service and stability requirements. Granulate solves the trade-off between quality of service and costs, providing customers improved results in both by significantly improving performance," said Asaf Ezra, Co-founder and CEO of Granulate. "Given the current economic slowdown, we are even more excited about helping businesses across the globe achieve dramatic cost reductions necessary to thrive amid changes in the global business environment. We believe we have found a true partner in Insight, a team of software experts who will help us bring our solution to more customers around the world."
Granulate's unique patent-pending solution simultaneously improves performance and reduces costs without requiring any changes in the customer's code. Most businesses use generic operating systems (OS) that are not optimized to the particular workload a business runs on it. Granulate's real-time optimization solution performs ongoing adaptations to continuously tailor and streamline the application data-flow to fit each specific business' needs. Through this, organizations can handle compute workloads with 60% less compute resources while significantly improving performance, with no code changes required. Granulate can be quickly installed on any Linux server and any infrastructure type (data-centers, multi or hybrid-cloud) and any environment (Bare-Metal, VMs, Kubernetes and Dockers) without customer's R&D efforts.
"The team at Granulate has developed an incredible solution that ensures better, streamlined performance at significantly lower costs without any burden to the customer," said Lonne Jaffe, Managing Director at Insight Partners. "The need to have high-performance digital experiences and lower infrastructure costs has never been more important, and Granulate has a highly differentiated offering, powered by machine learning, that's not dependent on configuration management or cloud resource purchasing solutions. We are looking forward to working alongside them as they scale."
Customers stand to benefit significantly through Granulate's latest round of funding, including mobile advertising and data company StartApp, which achieved a 33% reduction in cluster size and compute costs while maintaining a stable quality of service just two weeks after first installing Granulate. PicsArt, a leading mobile social image and video editing app, achieved significant cost reduction using Granulate. "We were highly impressed with Granulate's performance improvements and are looking forward to deploying Granulate across more of our services," said Gerasim Hovhannisyan, PicsArt's Director of IT Infrastructure Operations.
For more information about Granulate, please visit: www.granulate.io
Led by Asaf Ezra and Tal Saiag, Granulate is a real-time continuous optimization company that delivers reduced compute costs, faster response time and better throughput, without any code changes required. Unlike existing products, Granulate's patent-pending next-generation solution provides agnostic deep infrastructure and workload optimization for robust performance and cost improvements.
To learn more, visit: www.granulate.io