Cloud cost management company DoiT acquires Israeli startup Attribute for $65 million
DoiT, a cloud cost optimization firm, is acquiring the Israeli startup Attribute for approximately $65 million. The deal aims to enhance corporate visibility into AI and cloud infrastructure spending.
DoiT, a company that develops solutions for reducing cloud operational costs, is acquiring the Israeli startup Attribute, which developed a solution for measuring AI expenses and cloud management, for approximately $65 million.
Attribute was founded in 2023 by Unit 81 alumni Yitzhak Zimmerman, who serves as CEO, and Liad Trop, who serves as CTO. The company's solution provides organizations with real-time analytics on the usage of tokens, models, and shared cloud resources, broken down by team, product, feature, agent, or client. Attribute previously raised about $13.5 million in seed funding from leading Israeli funds: Mensch Capital, SCapital, HarelTech, and IBI.
DoiT is an Israeli-American unicorn founded in 2011 by CEO Vadim Soloviev and Yoav Toussia-Cohen. Headquartered in Santa Clara, California, the company serves more than 4,500 customers in 27 countries, including Spotify, Booking.com, Akamai, FIFA, Perplexity, Raptive, and Claroty. The acquisition of Attribute follows a series of purchases made by the company over the last two years, totaling approximately $200 million in investments.
"The Attribute solution fits perfectly into DoiT's product portfolio, and we already have joint customers today. Organizations cannot see or know today what their expenses are in the field of AI and cloud, and Attribute provides them with the full picture of an expense that is only growing," said Yitzhak Zimmerman.
DoiT's data indicates that monthly spending on AI is expected to triple over the next 12 months. Furthermore, a recent survey of 500 executives in large organizations revealed that only 15% are able to calculate the return on investment in AI, with many citing frequent budget overruns due to a lack of visibility into AI-related costs.
"Our connection with Attribute is a natural step in the strategy of DoiT, which has made it its mission to provide organizations with full and transparent control over their cloud and AI expenses," said Vadim Soloviev, CEO and co-founder of DoiT.
