Investing in Antimetal
Chapter One Participates in Antimetal's Seed Round.
Most people don’t know that cloud infrastructure – virtual data storage and compute engines – total over 60% of all enterprises globally. Amazon’s AWS leads the $200B cloud market with a 34% market share. AWS offers a suite of products and services – however, enterprises are in cost-cutting mode as Amazon generates over $80B per year.
Introducing Antimetal: Antimetal is building an AI-powered cloud optimizer, Save, that aims to disrupt enterprise cloud spending to save companies both time and money. Any AWS customer is now an eligible enterprise for Antimetal’s Save product. Their non-invasive account access lets you start savings within 5 minutes of signing up.
There are several reasons why Antimetal is beneficial to the AWS market:
Improved cost-effectiveness
Increased customer satisfaction
Competitive advantage
Scalability
Not only can Antimetal analyze marketplace data to identify where EC2 spending is underutilized or oversubscribed, but it can make recommendations for changes. If you’d like to be hands-off and let Save thrive on Its own, Autopilot can be enabled which uses AI monitoring to perform actions on behalf of the enterprise. In just minutes AWS customers have begun their journey of optimizing usage and reducing costs while increasing the efficiency of AWS for other clients.
Despite there being a fair amount of automation, Antimetal is hands-on with customers by providing even more transparency around utilization and financials, far more than what AWS provides. By helping customers reduce spend, Antimetal plays a vital role in strengthening the customer lifetime value with AWS.
The cloud optimization space is not new, however, no other product works the same as Save. Antimetal does not only demonstrate their commitment to their users through transparency but based on the backend infrastructure that makes their recommendations so powerful:
Autopilot: AI-powered engine to buy and sell instances on behalf of the enterprise
Traceability: Audit log of all task
Alerts: Customized notifications
Team Features: Collaborative cloud optimization
Commitment-Free: Reap the benefits of long-term AWS pricing without lockups
Antimetal is building tools to let companies focus on what they’re best at. Save continuously monitors and learns from EC2 usage to identify savings opportunities 24/7.
The team has highly ambitious goals, with customer protection as the top priority.
Prediction Model: Risk models powered by AI to forecast EC2 usage; provide maximum savings without the downside worry
Frictionless Commitment Transfers: Marketplace to transfer Antimetal’s reserved instances amongst customers for even more savings
Underutilization Insurance: Antimetal takes on the risk by purchasing unwanted computing power
At the end of the day, Antimetal is building tools to empower enterprises to save money and time, therefore revenue is generated only when customers are saving. Save has three tiers: startup (free), business (10% of savings), and enterprise (pricing TBD).
We have had the pleasure of working closely with the founding team for several months as Save came to life. Matthew Parkhurst was previously an early employee at Praxis and before that, held multiple growth roles at insurance companies. Shreyas Lyer is a graduate of Harvard Computer Science and Statistics where he specialized in AI, ML, and distributed systems. Following an internship working on Meta’s cloud and network security teams, Shreyas dropped out of his master’s program to pursue his dream of building cloud infrastructure at Antimetal.
With their expertise, the Antimetal team is well-positioned to build a new era of cloud compute — cost optimization. By delivering on their promise of improving cost-effectiveness, increasing customer satisfaction, and providing a competitive advantage to AWS, they are poised to make a significant impact on the $500B industry.
To learn more about the Antimetal team and their approach to cost optimization, visit their website and follow their Twitter.
We are thrilled to partner with Antimetal and invest in their seed round alongside Framework Ventures, Polygon Ventures, Alchemy Ventures, and IDEO Ventures.