MOUNTAIN VIEW, Calif., Dec. 4, 2020– Fylamynt, a cloud automation platform raises $6.5 million in seed funding. Fylamynt allows cloud engineering teams to build, run and analyze automation workflows securely for any cloud with little to no code. The seed round is led by Gradient Ventures, Google’s AI-focused fund, with additional investment from Mango Capital and Point72 Ventures.
The cost of operations is still very high in Fortune 1000 enterprises with application downtime costing an estimated $1.25 to $2.5 billion per year and the average cost per hour for critical application failures is $500,000 to $1 million.
Cofounders Dr. Pradeep Padala, Dr. Xiaoyun Zhu and David Lee started Fylamynt in 2019 to solve this problem and increase productivity and revenue. They have decades of expertise in web-scale infrastructure, shipping infrastructure products for private and public cloud, and helping companies operate private and public cloud environments.
Fylamynt’s modern cloud automation platform is flexible and powerful to solve any customer use case including automated remediation, governance, compliance, cost and performance management. Fylamynt’s cloud provides a single orchestration engine to run any infrastructure code, while allowing the option of connecting to various services including DataDog, Splunk, PagerDuty, Slack and ServiceNow.
Fylamynt plans to hire and expand its R&D team with the new seed capital. It also plans to build and execute on the company’s go to market strategy.