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Overview
Spot.io, part of NetApp, helps businesses manage cloud costs and infrastructure on AWS. It uses software that analyzes cloud usage and automates management to lower compute expenses, especially through AWS EC2 spot instances, which offer spare capacity at reduced prices. The product provides deep visibility into cloud spending, an AWS cost optimization calculator for estimating potential savings, and a free action plan tailored to each customer. Revenue comes from selling software licenses and consulting services. Target customers include enterprises using containers and orchestration tools like Kubernetes, EKS, ECS, KOPS, Docker Swarm, and OpenShift. The company aims to reduce cloud compute costs for customers while simplifying cloud operations and improving efficiency.
About NetApp
Industries
Data & Analytics
Consulting
Enterprise Software
Company Size
51-200
Company Stage
Acquired
Total Funding
$53.2M
Headquarters
Tel Aviv-Yafo, Israel
Founded
2015
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Simplify's Take
What believers are saying
- Fiscal 2026 public cloud revenue reached $182 million, up 11% year-over-year.
- June 2026 StorageGRID 12.1 boosted throughput to 12TB/s for AI workloads.
- March 2026 EF50 and EF80 launch targets AI, HPC, and sovereign-cloud demand.
What critics are saying
- NetApp laid off 77 San Jose employees in May 2026, signaling ongoing restructuring.
- Security bulletins on April 20 and June 3, 2026 exposed ONTAP and StorageGRID flaws.
- The 2026 appeal against ex-CTO Jonsi Stefánsson prolongs trade-secret warfare with Vast Data.
What makes NetApp unique
- NetApp closed Spot on 2025-11-03, sharpening focus on storage and cloud infrastructure.
- Fiscal 2026 revenue hit $6.93 billion, anchored by ONTAP, StorageGRID, and cloud volumes.
- NetApp keeps winning Google Cloud storage awards while deepening AI and Kubernetes integrations.
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Funding
Total Funding
$53.2M
Below
Industry Average
Funded Over
7 Rounds
Growth & Insights and Company News
6 month growth
↓ -12%1 year growth
↓ -12%2 year growth
↓ -12%We’re thrilled to extend a heartfelt welcome to the customers and partners across the the full range of the Spot product portfolio including Eco, Ocean, Ocean for Apache Spark, Elastigroup, Spot Security, and CloudCheckr.
Flexera has completed the acquisition of Spot from NetApp, enhancing its Cloud Financial Management offerings with AI-powered FinOps technologies. This acquisition expands Flexera's capabilities in managing cloud financial commitments, optimizing containers, and supporting SaaS and public cloud use cases. Spot's products, including Spot Eco, Spot Ocean, and Spot Elastigroup, will now be part of Flexera's portfolio, offering new opportunities for partners, especially MSPs and distributors.
Flexera has entered into a definitive agreement to acquire the Spot by NetApp FinOps business from NetApp.
Flexera has acquired the FinOps division from NetApp, enhancing its ability to manage multi-cloud costs and FinOps needs across hybrid cloud, SaaS applications, and containers. The integration of Spot's AI and ML technology with Flexera's expertise will offer a comprehensive FinOps solution, improving financial accountability and efficiency in cloud operations. This move aligns with Flexera's strategy to provide a complete overview of tech expenditures and risks. The transaction is subject to customary closing conditions.
By integrating Spot's AI- and ML-enabled technology into Flexera's FinOps portfolio, the solution can better address the market's rising demand for cloud cost management.
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About NetApp
Industries
Data & Analytics
Consulting
Enterprise Software
Company Size
51-200
Company Stage
Acquired
Total Funding
$53.2M
Headquarters
Tel Aviv-Yafo, Israel
Founded
2015
NetApp is Hiring for 9 Jobs on Simplify!
Find jobs on Simplify and start your career today