Startup Granulate has raised $12 million through a recent round of Series A funding.
The newest funding effort for Granulate was lead by Insight Partners. However, other investors also took part in the funding. That includes TLV Partners and Hetz Ventures. The funding has secured Insight Partners’ Managing Director Lonne Jaffe a seat on the Board of Directors at Granulate.
Startup Granulate notes that its newest round of funding is massive. It brings the total amount raised by the company so far to $15.6 million. The company notes it has plenty of plans to make use of the money.
Starting of Granulate, says that it will use the funds to expand its business. That includes tripling its workforce. This will have it expanding all departments, such as research and development, as well as sales and marketing.
Insight Partners’ Lonne Jaffe said this about startup Granulate in a statement.
“The need to have high-performance digital experiences and lower infrastructure costs has never been more important, and Granulate has a highly differentiated offering, powered by machine learning, that’s not dependent on configuration management or cloud resource purchasing solutions. We are looking forward to working alongside them as they scale.”
Granulate operates a business that optimizes infrastructure and workload performance for businesses. The Israeli company does this in real-time without requiring businesses to change their code. This change allows them to reduce costs and increase revenue.
As of this writing, William White did not hold a position in any of the aforementioned securities.