Cast AI secures $108 million funding to expand cloud automation


People walk behind the logo of SoftBank Corp in Tokyo December 18, 2014. REUTERS/Toru Hanai/File Photo TPX IMAGES OF THE DAY

(Reuters) -Cast AI, a Miami-based startup that helps businesses automate cloud infrastructure management, said on Wednesday it has raised $108 million in a late-stage funding round led by G2 Venture Partners and SoftBank Vision Fund 2.

The oversubscribed round, which also saw participation from existing investors such as Aglaé Ventures, valued the company at $850 million, a person familiar with the matter said.

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