News Release
Pump Launches PumpGPT to solve AWS business support challenge
Pump
Thousands of companies rely on cloud provider Amazon Web Services (AWS) to function, spending close $100b every year. Using AWS comes with a steep learning curve and immense complexity, so it is unsurprisingly almost 10% of their budget is spent on the AWS support function. Helping these companies save that support spend, cloud spend manager Pump has today launched PumptGPT the first GPT-powered AI AWS support tool trained on a customer's own cloud environment. Pump has been working hard on democratizing cost savings on AWS, extending significant discounts that were once reserved for only large enterprises to everyone else. AI startup Pump is a FinOps platform that offers group-buying helping small businesses effortlessly save 60% on AWS spend. Within just a few minutes of setting up, users can reduce AWS expenses across 12 key AWS services. Notably, Pump's solution requires no access to code or engineering resources, operating with minimal permissions solely on cost data. Pump is now addressing questions and complexities of AWS for those without an in-house team. While basic billing support is offered for free by AWS, businesses are often compelled, by complex requirements, to subscribe to AWS business support for 24 x 7 technical support and contextual architectural guidance. This further costs them an astounding 10% of their total monthly bill. PumpGPT, the in-house AWS expert and DevOps engineer, is now available 24/7 and completely free for end-users. Trained on AWS documentation and proficient in Python and Java, PumpGPT boasts a deep understanding of real-world cloud usage, enabling it to swiftly address any inquiries related to AWS services, billing, and architecture. It serves as a reliable knowledge base, offering precise and comprehensive answers, empowering users to make informed and cost-effective decisions based on their own unique AWS environment. PumpGPT leverages advanced techniques such as deep prompt enrichment and domain-specific data integration to provide accurate and insightful responses while preventing misinformation. Users can dive up to eight levels deep in question threads for in-depth insights. Pump also bridges to human support by assisting users in filing support tickets when necessary. PumpGPT's exceptional performance extends to certification, having scored over 91% on every AWS Certified Solutions Architect exam attempt, even surpassing the renowned GPT-4 in accuracy by up to 90%. This achievement solidifies PumpGPT as an honorary graduate in the realm of AI-powered solutions. Spandana Nakka, CEO of Pump commented: "Our mission has always been to use technology to democratize all aspects of AWS for our customers. First, we tackled spending, helping users save up to 60%. Now, we're taking on support. With PumpGPT, quality AWS support should not be a luxury; it's a given." According to Gartner, cloud spending is projected to reach $600 billion in 2023, growing steadily at 20% year over year. The advancement in AI and the generative AI explosion have further accelerated spending on major cloud providers. AWS leads the space, hosting over 1.4 million businesses, with 90% of them being small and mid-sized companies. More than half of these companies either struggle to comprehend where cost optimization is needed or lack the in-house resources to execute a proper process. Paul Lee, Board Partner at Tribe Capital commented: “Pump is walking the talk on dealing with cloud spend. They’ve quickly hit the 200 customers milestone and are growing quickly. Their latest innovation PumpGPT will be game-changing and shows how determined they are to get under the hood of the pains businesses are facing right around the world” Pump was founded in early 2022 by Spandana Nakka, during a period when the tech industry experienced an economic downturn, and cost savings were of paramount importance. The team is made up of serial entrepreneurs and Google engineers who had previously exited a startup, drawing from their own struggles with cloud cost management. Pump is backed by Y Combinator and currently serves over 200 companies, helping them save more than $12 million per year. Spandana Nakka added: “Our commitment to democratizing AWS costs for small businesses is just the beginning. In the years to come, we envision both Pump and PumpGPT evolving into a true partner in digital transformation. They will not only answer questions but anticipate needs, proactively optimizing AWS usage and costs. We anticipate it becoming an integral part of every organization's cloud strategy, guiding them toward greater efficiency, agility, and success.” “Indeed, our vision extends beyond the horizon of AWS. We aim to continually push the boundaries of what technology can achieve, staying at the forefront of AI innovation. PumpGPT's relentless pursuit of accuracy and insight will be instrumental in realizing this vision.” PumpGPT is now available for all Pump’s customers. To learn more and sign up, visit: https://pump.co/pumpgpt About Pump Pump uses group-buying and AI to deliver automated savings of up to 60% on AWS, with no engineering input needed. Pump is absolutely free for anyone to use, and the bigger the collective of customers, the better the savings are for everyone. Pump is backed by YCombinator and has about 200+ companies using them to save over $12M+ this year. For more information please visit https://pump.co/ Contact Details Pump Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://pump.co/
October 05, 2023 08:00 AM Pacific Daylight Time
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