Espresso AI raises $11M in seed funding led by Daniel Gross and Nat Friedman to tackle the cloud cost crisis
May 07, 2024•over 1 year ago
Amount Raised
$11 Million
Round Type
seed
San FranciscoCloud InfrastructureCloud ComputingMachine LearningArtificial IntelligenceSoftwareInvestors
Matt TurckNat FriedmanDaniel Gross
Description
Espresso AI, a stealthy Silicon Valley artificial intelligence startup, has raised over $11 million in seed funding to bring the power of AI to perhaps the biggest challenge in enterprise computing today: reining in runaway cloud costs. The funding includes a seed round led by Daniel Gross and Nat Friedman, and a pre-seed round led by Matt Turck at FirstMark, with participation from industry leaders.
Funding Insights
Based on industry dataVC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech