Alicorn is pleased to announce that portfolio company, Anodot, has acquired cloud cost management platform Pileus. The combined offering will enable Anodot to accurately manage and forecast cloud costs, as part of its comprehensive autonomous monitoring solution, powered by artificial intelligence.
Pileus provides personalised cloud cost optimisation strategies for businesses, allowing them to cut their cloud costs by up to 40%. With an increasing trend towards enterprise cloud usage, this service is becoming increasingly important, preventing businesses from overspending on cloud infrastructure.
By acquiring Pileus, Anodot looks to offer a single platform that combines visualisation, analytics, and cost savings recommendations. Businesses stand to benefit from both technologies’ AI-powered anomaly detection, correlation, and forecasting solutions for all cloud environments.
“Anodot’s acquisition of Pileus is not only a strong start to Anodot’s expansion into cloud cost management, but also the realisation of its vision as a leader in comprehensive autonomous business monitoring and prediction. Alicorn is proud to follow-on in Anodot and support both companies on their journey of growth following this strategic investment.” – Alexander Assim, Partner at Alicorn.
Alicorn was pleased to lead and complete a further $4m primary and secondary round in Anodot in order to assist the transaction’s completion. It comes one year on from Alicorn’s initial investment in Anodot.
Alicorn is a global venture capital firm established by the B Corporation-accredited investment group Arowana in 2018. The team’s expertise lies in secondary investments and bespoke primary funding rounds in VC-backed technology companies at a late growth stage. Alicorn works with these companies, their existing venture capital investors, and other stakeholders to facilitate secondary investments to solve liquidity requirements in addition to participating in unique primary rounds.
Anodot’s Business Monitoring platform uses machine learning to constantly analyse and correlate every business parameter, providing real-time anomaly alerts and forecasts in their context. Fortune 500 companies, from digital business to telecom, trust Anodot’s patented technology to reduce time to detection and resolution for revenue-critical issues by as much as 80%. Anodot is headquartered in Silicon Valley and Israel, with sales offices worldwide.
Pileus helps companies visualise and optimise their cloud cost by monitoring their cloud environments end-to-end, including an accurate breakdown of Kubernetes cost. They enable customers like Fiverr, NICE, and Amdocs to manage, monitor and save on cloud costs using easy-to-implement recommendations on any cloud platform.