PointFive, a Tel Aviv-based startup that develops software to manage cloud and AI spending, has raised US$60 million in a series B round led by Accel.

The funding brings PointFive’s total raised to US$96 million. Index Ventures, Salesforce Ventures, Entrée Capital, Perpetual Growth, Vesey Ventures, and Sheva Ventures also joined the round.

PointFive said it has shifted more of its focus to AI cost management as companies face rising infrastructure bills under consumption-based pricing models, co-founder and chief executive Alon Arvatz said.