The cloud industry has seen immense growth in recent years, leading to high operational costs. To confront this issue, Antimetal, a New York City-based early-stage startup, has developed a proprietary machine learning model to reduce businesses’ cloud bills. With their AI-based solution, Antimetal can find savings of up to 75% on AWS bills in less than five minutes, potentially saving thousands or even millions of dollars annually. This groundbreaking innovation recently received a $4.3 million seed investment to expand its capabilities.
Antimetal’s model continuously scans thousands of data points to discover opportunities for savings and dynamically scale the coverage. While AWS offers a marketplace for selling unused resources, Antimetal has gone further and developed an AI-powered platform to identify the most efficient way to use the resources and sell them. The platform is said to be three times faster than the AWS marketplace, with an average of 90 days to sell.
The current team consists of five members, with plans to hire more employees with this new funding. The co-founders Matthew Parkhurst, CEO, and Shreyas Iyer, CTO, are both very passionate about diversifying their team and building a diverse company is a core value for them. Antimetal is looking for people from all backgrounds.
The company is in a unique position to work with AWS and the other major cloud platforms (Google and Microsoft). Matthew Parkhurst has explicitly mentioned that the incentives are truly aligned between the company and their partners. Having a third-party to facilitate the sale of spare resources significantly boosts the lock-in to AWS.
Antimetal is an ambitious company that addresses the need for efficient cloud-spend. By implementing machines-learning to identify savings opportunities and build an AI platform to maximize resource utilization, it is sure to continue to revolutionize the cloud industry.
