The Zurich-based cloud computing start-up Optimyze has been able to finalize its product development and announce market launch this year. This has been made possible by a pre-financing round in which the Zurich firm has raised 3 million US dollars in total. According to an article on startupticker.ch, this was led by one of the world’s leading venture capital firms, Andreessen Horowitz (also known as a16z), which is headquartered in Silicon Valley, California.
The cloud computing start-up develops software that helps companies to track and optimize their use of cloud resources. According to the information available, it is able to show exactly where unnecessary costs are being incurred, which is in contrast to existing solutions available on the market. According to Optimyze, this leads to greater efficiency, saves money and improves margins.
As reported by Business Insider, this is the first time that Andreessen has invested in a European company at the foundation phase. The company holds assets worth over 11 billion US dollars. It has supported major companies such as Facebook, Stripe, Instacart, Airbnb, Lime and Slack.
“a16z has great infrastructure, an exceptional team and a wealth of experience in the enterprise market that we are aiming for”, comments Thomas Dullien, Co-Founder and CEO of Optimyze, in the press release. After Dullien sold his start-up to Google, where he worked in the research team for the Zero Security project until 2019, he founded Optimyze together with Sean Heelan. The start-up currently comprises five people from across the world, with two new employees expected to be hired by June to increase the team size to seven.