Portkey, a platform for building AI-powered applications, has secured $15 million in a Series A funding round led by Elevation Capital, with participation from Lightspeed. This investment will enable Portkey to expand its AI control plane and enhance its go-to-market operations, focusing on agent-based systems, permissions, identity management, and performance optimization for low-latency use cases.
Founded by Rohit Agarwal, Portkey specializes in building a unified control plane for production AI systems. Their platform integrates an AI gateway with governance, observability, reliability, and cost management functionalities, allowing enterprises to efficiently manage model usage, enforce policies, and monitor spending in real-time.
Portkey boasts impressive processing capabilities, handling over 500 billion LLM tokens daily, 125 million requests, and managing $500,000 in AI spend for 24,000 organizations globally. Customers such as Postman and Snorkel AI have benefited from Portkey’s services.
In a strategic move, Portkey has made its core enterprise gateway accessible for free, simplifying the implementation of governance and observability controls for AI deployments. This initiative aims to encourage early adoption of essential AI management practices.
Elevation Capital’s $400 million fund, launched last year, emphasizes long-term support for companies, including those eyeing IPOs. This investment complements their early-stage capital deployments from Fund VIII, a $670 million vehicle catering to startups with investments ranging from $2–5 million.
Source: Entrackr : Latest Posts