Datafy, aiming to revolutionize cloud storage efficiency, has revealed that its $6 million seed fundraising round, headed by international software investor Insight Partners, has concluded. With this funding, Datafy can further its goal of enabling businesses navigating the challenges of the digital era to use cloud storage at a reasonable and controllable cost.
Due to the exponential rise in data generation brought about by the increasing use of AI and the general, widespread acceptance of cloud technologies, the cloud storage market is expanding quickly. In 2022, the market for cloud storage was estimated to be worth 90.17 billion dollars. The market is predicted to expand at a projected compound annual growth rate of almost 23 percent, reaching 108.69 billion US dollars in 2023 and 472.47 billion US dollars by 2030.
Managing rising costs is one of the most critical difficulties that businesses are facing as a result of rapid changes that are occurring, stated Datafy. By delivering a solution that is self-optimizing and independent of the developer, Datafy claims to tackle these difficulties head-on. It would offer savings of up to fifty percent on storage expenditures.
The Chief Executive Officer of Datafy, Zivan Ori, claimed that the company’s objective is crystal clear: “To provide Finops and Devops teams with the control they deserve without requiring large system changes or requiring any work. When it comes to cloud data management, we are not only saving money with Datafy, but we are also transforming the way businesses handle their cloud data. A significant step forward in our expansion is represented by the investment announcement that we made today.”
Automating Cloud Storage Management
Datafy’s flagship solution automates cloud storage management by scaling data storage utilization to provide optimal management at the lowest feasible cost, with a focus on Amazon EBS (Amazon Elastic Block Store) on the AWS cloud.
This “innovative and seamless” solution – which would only need the click of a button to implement – leverages complicated algorithms to ensure that data is retained as cost-effectively as possible in the customer’s own cloud, all without the need for significant system changes or manual oversight.
His enthusiasm for the company’s mission was expressed by Liad Agmon, Managing Director at Insight Partners, a firm with over $80B in regulatory assets under management. “Managing cloud storage efficiently is paramount in a world where artificial intelligence is driving a dramatic increase in the need for resources, Businesses are able to concentrate on innovation rather than infrastructure administration thanks to the revolutionary technique offered by Datafy, which, in addition, helps them reduce their expenses.”
