ASHBURN, Va.--(BUSINESS WIRE)--Today Anodot, the business monitoring company, announced the acquisition of Pileus, a cloud cost management platform, for an undisclosed amount. The combined offering, powered by machine learning, will enable businesses to proactively manage and forecast their cloud costs.
Valued at $396 billion, the public cloud market is fueled by businesses adopting cloud-first strategies for digital transformation and remote work initiatives. Cloud acceleration has created a significant cost driver for businesses. In fact, research shows that 69% of firms regularly overspend on their cloud budget by at least 25%.
“We have witnessed first-hand the many challenges organizations face while attempting to manage their cloud costs,” said David Drai, CEO, Anodot. “Historically, cloud pricing and billing has been a complicated undertaking for many organizations - until now. Today, Anodot joins forces with Pileus to combat this growing problem. Pileus is the only technology on the market able to provide granular intelligence, visibility, and control over cloud billing.”
“Anodot’s acquisition of Pileus is not only a strong move to support Anodot’s expansion into cloud cost management, but also the realization of its vision as a leader in comprehensive autonomous business monitoring and prediction,” said Alexander Assim, Partner, Alicorn. “The team at Alicorn is proud to support both companies on their journey of growth following this strategic investment.”
The combined technology will integrate visualization, analytics, and cost savings recommendations, all from a single platform. Data-driven businesses will benefit from AI-powered anomaly detection, correlation, and forecasting for real-time monitoring of all cloud environments, inclusive of Kubernetes-based services.
“One of the biggest challenges for customers in managing their cloud costs is the ability to forecast cloud spend and identify anomalies in cloud uses and costs. The problem becomes several times more complex in large and dynamic environments,” said Roni Karp, CEO, Pileus.
Anodot's advanced capabilities will allow Pileus to detect anomalies and forecast cloud spend, factoring in the cloud cost history in addition to related business metrics, for significantly more accurate budgeting.
“Pileus has significantly helped our business keep cloud-related costs under control,” said Rubi Cohen, Cloud Center of Excellence, Director, Amdocs. “We believe that integrating machine learning capabilities for anomaly detection and accurate forecasting will help us tremendously with smarter and more accurate cloud cost management.”
About Anodot
Anodot's Business Monitoring platform uses machine learning to constantly analyze 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 percent. Anodot is headquartered in Virginia and Israel, with sales offices worldwide. To learn more, visit www.anodot.com and follow them on LinkedIn and Twitter.
About Pileus
Pileus helps companies visualize and optimize 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. Learn more about Pileus.
