Insider Brief
- Datafy, specializing in cloud storage optimization, announced the completion of a $6 million seed funding round led by Insight Partners, aimed at making cloud storage more cost-effective and manageable.
- With rapid growth in data generation driven by AI and cloud technology adoption, companies face increasing cloud storage costs. Datafy offers solutions that promise up to 50% savings on storage costs by providing a self-optimizing, developer-independent system.
- Datafy’s solution focuses on optimizing Elastic Block Store (EBS) on AWS, using advanced algorithms for auto-scaling and cost-effective data management. The company is led by a team of industry veterans and aims to transform business data management practices in the cloud.
PRESS RELEASE — TEL AVIV, Israel/April 10, 2024 /PRNewswire/ — Datafy, an innovative startup poised to redefine cloud storage optimization, announced today the completion of a $6 million seed funding round led by global software investor Insight Partners. This investment propels Datafy’s mission to make cloud storage cost-effective and manageable for companies navigating the complexities of the digital age.
The cloud storage sector is experiencing rapid growth, driven by an exponential increase in data generation due to the growth in AI adoption and the general widespread adoption of cloud technologies. The global cloud storage market is projected to grow from $132.03 billion in 2024 to $665.00 billion by 2032, at a CAGR of 22.4% during the forecast period(1).
Because of these rapid changes, companies face significant challenges, with a primary one being managing rising costs. Datafy addresses these issues head-on, offering up to 50% savings on storage costs and providing a self-optimizing, developer-independent solution.
Zivan Ori, CEO of Datafy said: “Our mission is clear — to give Finops and Devops teams the control they deserve with no effort or big changes to the system. With Datafy, we’re not just saving money; we’re transforming how businesses manage their data in the cloud. Today’s funding news is the next step in our journey as we continue to grow.”
Liad Agmon, Managing Director at Insight Partners, expressed his enthusiasm for the company’s vision: “In a world where AI is driving a dramatic increase in the need for resources, managing cloud storage efficiently is paramount. Datafy’s groundbreaking approach not only reduces costs but also empowers companies to focus on innovation rather than infrastructure management.”
Datafy’s flagship product, focusing on EBS (Elastic Block Store) on the AWS cloud, simplifies cloud storage management by auto-scaling data storage usage to ensure optimum management at a minimal cost.
This innovative and seamless solution — just a click of a button to implement — leverages advanced algorithms to ensure data is stored most cost-effectively in the customer’s own cloud without requiring significant system changes or manual oversight.
About Datafy
Datafy is setting a new standard in cloud storage management with its pioneering technology and expert leadership team, including industry veterans Zivan Ori, Yoav Ilovich, and Ziv Serlin. The company’s mission is to help enterprises control cloud storage costs, offering a solution that promises up to 50% savings on storage expenses. With Datafy, businesses can achieve self-optimizing, developer-independent cloud storage management.
About Insight Partners
Insight Partners is a global software investor partnering with high-growth technology, software, and Inter-net startup and ScaleUp companies that are driving transformative change in their industries. As of December 31, 2023, the firm has over $80B in regulatory assets under management. Insight Partners has invested in more than 800 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and the Bay Area. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with tailored, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on X @insightpartners.
[1] https://www.fortunebusinessinsights.com/cloud-storage-market-102773
Contact:
Email: press@datafy.com
+972545966688
