Total amount raised
$52.6 Million
Latest funding date
3/1/2020
Location
Spot has successfully navigated five funding rounds, attracting investment from notable venture capital firms such as Highland Capital Partners and Highland Europe. The company specializes in cloud cost analysis, reserved capacity management, auto-scaling applications, and big data services.
Keep reading to explore the intricacies of Spot's fundraising journey and the investors backing this innovative platform.
What Is Spot?
Spot, a private company based in Itasca, Illinois, specializes in cloud cost analysis, reserved capacity management, auto-scaling applications, and big data services. The company operates within the industries of Big Data, Cloud Computing, Cloud Data Services, Cloud Infrastructure, Cloud Management, SaaS, and Software.
With an employee count ranging from 101 to 250, Spot has been acquired by Flexera. Despite the obfuscation of its founding year and founder names, Spot's innovative solutions continue to make significant impacts in the tech industry.
How Much Funding Has Spot Raised?
- Seed Round
- Amount Raised: USD 600,000
- Date: October 2015
- Lead Investors: PICO Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage development and operations.
- Seed Round
- Amount Raised: USD 2,000,000
- Date: March 2016
- Lead Investors: PICO Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the company's platform and expand its market reach.
- Series A
- Amount Raised: USD 15,000,000
- Date: July 2017
- Lead Investors: Intel Capital, Vertex Ventures, Vertex Ventures Israel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop workload management products, expand services in the serverless domain, and grow marketing and sales offices in San Francisco and London.
- Series B
- Amount Raised: USD 35,000,000
- Date: August 2018
- Lead Investors: Highland Europe
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product offerings.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: March 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue growth and innovation in cloud cost management.
Total Amount Raised: USD 52,600,000. Current Valuation: Not publicly disclosed.
Key Investors
- Highland Capital Partners
- Details: Highland Capital Partners is a venture capital firm that invests in seed, early, and growth-stage companies. They have a strong track record of supporting innovative startups.
- Investment Focus Areas: Seed, early, and growth-stage investments across various sectors.
- Notable Investments: 2U, Aereo, Ampersand.
- Highland Europe
- Details: Highland Europe is a growth-stage technology investor focusing on internet, mobile, and software companies. They aim to support companies with high growth potential.
- Investment Focus Areas: Internet, mobile, software.
- Notable Investments: WeTransfer, Malwarebytes, Nexthink.
- Intel Capital
- Details: Intel Capital is the investment arm of Intel Corporation, focusing on innovative technology startups. They have a global presence and a diverse portfolio.
- Investment Focus Areas: Cloud computing, artificial intelligence, data centers.
- Notable Investments: Cloudera, Mirantis, MongoDB.
- Vertex Venture Capital
- Details: Vertex Venture Capital is an early-stage investment firm that supports technology-driven companies. They have a strong presence in the IT and enterprise software sectors.
- Investment Focus Areas: IT, enterprise software, cloud computing.
- Notable Investments: Waze, CyberArk, SolarEdge.
- PICO Venture Partners
- Details: PICO Venture Partners is an early-stage venture capital firm that invests in innovative technology companies. They focus on companies with disruptive potential.
- Investment Focus Areas: Early-stage technology companies with innovative solutions.
- Notable Investments: Via Transportation, Vroom.
What's Next for Spot?
Spot's future looks promising as it continues to develop its workload management products and expand services in the serverless domain. The company aims to grow its marketing and sales offices in San Francisco and London, capitalizing on the increasing focus on cloud cost management and optimization.
With the successful Series A round, Spot is well-positioned for future fundraising opportunities to support further expansion and development. However, the company may face challenges such as competition in the cloud cost management market and the need to keep up with rapid technological advancements.
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