Exotanium, a cloud resource optimization and management company, announced today that it has completed a $5 million seed funding round led by Walden International and Nepenthe Capital LLC.

This latest round of funding builds on an exceptional year for Exotanium, which has seen an increase in demand for cloud-optimization solutions as organizations continue to shift their operations online and search for high-quality, budget-friendly cloud management solutions. In the past year, Exotanium has raised $5 million in funding and completed a successful pilot with the software company, Autodesk, Inc.

Founded in 2018 by Cornell University researchers Hakim Weatherspoon, CEO; Zhiming Shen, CTO; and Robbert van Renesse, Chief Scientist; Exotanium's cloud-optimization solutions-technology licensed through Cornell's Center for Technology Licensing at Cornell University-help companies reduce wasteful spending and enable more efficient usage of cloud resources. Exotanium completed the National Science Foundation I-Corps program, received pre-seed funding led by Launch NY and Red Bear Angels, and is a member of the Praxis Center for Venture Development, Cornell University's on-campus incubator for startups in engineering, digital, and physical sciences, as well as a member of Rev: Ithaca Startup Works, a community business incubator located in Ithaca, New York.