LLMOps startup Portkey raises $15 million in round led by Elevation Capital

Portkey, a Language model operations (LLMOps) startup, has secured $15 million in a Series A funding round led by Elevation Capital, with participation from existing investor Lightspeed. 

The company plans to use the new funding to grow its AI management platform and boost its sales and marketing as more businesses start using large language models (LLMs) and AI tools in important operations.

Read also- Crypto Unicorn coindcx announces ₹111 crore ESOP buyback for employees

"AI will only become more powerful and more pervasive, and our mission at Portkey is to give enterprises the control plane that keeps AI reliable, governed, and accountable as it scales," said Rohit Agarwal, Co-founder & CEO, Portkey, in a statement.

"We are grateful to the customers who trusted us early to Elevation Capital and Lightspeed for backing this next phase and to the team whose discipline and speed built the foundation we are now expanding," Agarwal added.  

In August 2023, the company raised $3 million in seed funding with Lightspeed leading the round.

Founded by Rohit Agarwal, Portkey offers an AI gateway that sits directly in the path of AI traffic, helping businesses manage reliability, governance, monitoring, and costs for their AI applications. It lets companies track performance, enforce rules, and watch spending in real time as usage grows.

Advertisment

Portkey says it handles over 500 billion LLM tokens through 125 million daily requests and oversees more than $500,000 in AI spending each day for 24,000+ organizations worldwide, including clients like Postman and Snorkel AI.

The company has made its main enterprise gateway free, so teams can start using governance and monitoring tools early when adopting AI.

Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:

Latest Business and Startup News: Discover Funding Trends and Stories Shaping Indian Startups.

Startup Funding News: Your Gateway to Every Funding Update.

Latest Startup News: Stay updated with the latest startup news and trends. Your go-to source for startup ecosystem updates.

Startup Stories: Discover inspiring tales of startups overcoming challenges, and achieving succes.

Advertisment