Morfless automates cloud commitment management for AWS Reserved Instances and Savings Plans, using machine learning to optimize savings and coverage. The platform intelligently applies discount strategies and adjusts commitments in real-time to match usage, reducing risk and eliminating wasted spend.
Funding
$148.6K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Managing cloud commitments like AWS Reserved Instances and Savings Plans is complex and time-consuming, often leading to suboptimal savings or commitment risk. Organizations struggle to maintain near-perfect coverage and avoid underutilized commitments due to the dynamic nature of cloud usage.
Solution
Morfless provides an automated cloud commitment management platform designed to maximize savings on AWS Reserved Instances and Savings Plans. The platform leverages machine learning algorithms for both financial and technical optimization to intelligently identify and apply the best discount strategies. This ensures near-perfect coverage across a company's cloud footprint without the need for manual intervention or the risk of long-term lock-in. Morfless also addresses underutilization by automatically adjusting commitments in real-time to match actual usage, thereby eliminating wasted spend.
Target Audience
The primary target audience includes organizations utilizing AWS cloud infrastructure that seek to optimize their spending on Reserved Instances and Savings Plans. This encompasses businesses of all sizes looking to reduce their cloud expenditure and improve cost efficiency.
Features
- Automated Rate Optimization: Continuously identifies and applies the most cost-effective discount strategies for compute, storage, analytics, and machine learning services.
- Near-Perfect Coverage Algorithms: Optimizes discount investments across multiple AWS services to achieve an average of 97% discount coverage.
- Reduced Commitment Risk: Delivers savings comparable to long-term commitments without the associated lock-in, allowing for flexible scaling.
- Idle Wipe: Scans the cloud environment daily to identify and eliminate billed but unused infrastructure.
- Anomaly Detection: Addresses unexpected and persistent spikes in cloud costs.
- Right-Sizing Tools: Provides engineering teams with sizing and costing recommendations for optimal resource utilization.
- Instance Update Identification: Continuously scans for optimal instance upgrades, such as RDS enhancements and Graviton adoption.
- Support for Key AWS Services: Includes EC2, Lambda, Fargate, RDS, ElastiCache, SageMaker, Redshift, and OpenSearch.