Cast AI secured an investment from Metanet to support its expansion into Korea and Southeast Asia, and a credit facility from J.P. Morgan to pursue acquisitions
Cast AI, the leading Application Performance Automation platform, today announced that it has closed an equity investment from global technology and services company Metanet, alongside a credit facility from J.P. Morgan.
The Metanet investment comes on the heels of Cast AI’s oversubscribed $108 million Series C round led by G2 Venture Partners and SoftBank Vision Fund 2, with participation from Aglaé Ventures, joining alongside existing partners Hedosophia, Cota Capital, Vintage Investment Partners, Creandum, and Uncorrelated Ventures.
Metanet, a key technology player in Korea and Southeast Asia, brings deep strategic relationships to Cast AI. Their investment is not only a strong vote of confidence in Cast AI’s growth trajectory but also a cornerstone of Cast AI’s ongoing geographic expansion into the APAC region.
“This funding marks an important milestone in our journey,” said Yuri Frayman, CEO and Co-founder of Cast AI. “Metanet is a strategic partner with unique, end-to-end capabilities in Korea and Southeast Asia, and together we’re expanding into key sectors including manufacturing, automotive, distribution, and IT.”
“The credit facility from J.P. Morgan provides us with the strategic flexibility to scale operations, drive continued innovation for our customers and pursue strategic acquisitions to further strengthen our Application Performance Automation platform,” Frayman added.
“J.P. Morgan is thrilled to support Cast AI as they embark on this exciting new phase of growth,” said Sydney Vaughn, Vice President within J.P. Morgan’s Innovation Economy business. “The team has continued to demonstrate their ability to scale their vision, and we are proud to be part of their journey.”
Doug Ahn, CEO of Metanet Tplatform, stated, “Metanet was the first to supply Cast AI’s innovative solutions in Korea, and we have been expanding our collaboration ever since. Through investment and strengthened partnerships, we will further enhance comprehensive business cooperation and mutual trust in the field of cloud cost reduction.”
