Israel-based Pileus, which is officially launching today, aims to help businesses keep their cloud spend under control. The company also today announced that it has raised a $1 million seed round from a private angel investor.
Using machine learning, the company’s platform continuously learns about how a user typically uses a given cloud and then provides forecasts and daily personalized recommendations to help them stay within a budget.
With all of the information it gathers about your cloud usage, the service can also monitor usage for any anomalies. Because, at its core, Pileus keeps a detailed log of all your cloud spend, it also can provide detailed reports and dashboards of what a user is spending on each project and resource.
If you’ve ever worked on a project like this, you know that these reports are only as good as the tags you use to identify each project and resource, so Pileus makes that a priority on its platform, with a tagging tool that helps enforce tagging policies.
“My team and I spent many sleepless nights working on this solution,” says Pileus CEO Roni Karp. “We’re thrilled to finally be able to unleash Pileus to the masses and help everyone gain more efficiency of their cloud experience while helping them understand their usage and costs better than ever before.”
Pileus currently offers a free 30-day trial. After that, the service shows you a $180/month or $800 per year price, but once you connect your accounts, it’ll charge 1% of your savings, not the default pricing you’ll see at first.
The company isn’t just focused on individual businesses, though. It’s also targeting managed service providers that can use the platform to create reports and manage their own customer billing. Karp believes this will become a significant source of revenue for Pileus because “there are not many good tools in the field today, especially for Azure.”
It’s no secret that Pileus is launching into a crowded market, where well-known incumbents like Cloudability already share mindshare with a growing number of startups. Karp, however, believes that Pileus can stand out, largely because of its machine learning platform and its ability to provide users with immediate value, whereas, he argues, it often takes several weeks for other platforms to deliver results.