Cast AI raises $108M in a major Series C funding round to accelerate its mission of optimizing AI and Kubernetes workloads through automation. With cloud computing costs skyrocketing and GPUs in short supply, organizations are desperately seeking more efficient ways to manage infrastructure, and Cast AI is stepping up with a solution that’s capturing serious investor attention.
The Miami-based startup, which also operates heavily out of Europe, announced it has secured $108 million in fresh capital led by G2 Venture Partners and SoftBank Vision Fund 2. The raise, which also drew support from Aglaé Ventures, Hedosophia, Cota Capital, Vintage Investment Partners, Creandum, and Uncorrelated Ventures, pushes the company’s post-money valuation close to $900 million, putting it on the cusp of unicorn status.
Cast AI, founded in 2019, has seen explosive growth, claiming over 2,100 customers, including tech titans like Akamai, BMW, Hugging Face, FICO, and Swisscom. Its core platform uses AI-driven automation to intelligently distribute compute workloads across cloud environments, drastically cutting down waste. According to the company, most organizations only utilize 10% of their CPUs and 23% of memory — a staggering inefficiency that Cast AI aims to eliminate.
“It’s all about GPU, compute, and electricity,” said Yuri Frayman, CEO and co-founder of Cast AI. “Our job is to maximize efficiency and promote more workloads across GPUs — that’s what our platform is built for.”
Back in November 2023, Cast raised $35 million at a $300 million valuation. This latest round more than triples that, reflecting how vital AI infrastructure optimization has become in today’s resource-hungry environment. The company is also deepening its partnerships with industry leaders. Frayman revealed that Cast AI is working with Crusoe Energy, SoftBank and is integrated into the massive Stargate AI project in Japan with OpenAI and other partners.
Although AI now drives most of its momentum, Cast AI originally emerged from a struggle to manage ballooning cloud costs during the founders’ previous venture, Zenedge (acquired by Oracle). That experience birthed a platform laser-focused on Kubernetes, and while AI has supercharged growth, Kubernetes remains at the heart of its value proposition.
SoftBank’s Tim Yap commented, “Cast AI is setting a new standard for cloud efficiency at a time when infrastructure demands are surging.” Meanwhile, Creandum’s Carl Fritjofsson noted, “Cast was an AI agent before we started even using that term. They’ve just been quietly building this automation backbone for years.”
With a global expansion roadmap and millions in new capital, Cast AI now plans to scale its R&D and market footprint. As the AI race intensifies, companies trying to keep costs down and performance up may find their best ally in Cast AI’s efficiency-driven approach.
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