Portkey, a Language Model Operations (LLMOps) startup, has raised $15 million in a Series A funding round. The investment was led by Elevation Capital, with support from existing investor Lightspeed.
The company will use this new funding to improve and expand its AI management platform. It aims to make its tools stronger and more efficient for businesses using AI.
As more companies start using large language models (LLMs) and AI tools in their key operations, Portkey plans to increase its sales and marketing efforts to reach more customers and support this growing demand.
“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 provides an AI gateway that works between businesses and their AI systems. This gateway helps companies manage reliability, governance, monitoring, and costs of their AI applications. It allows businesses to track performance, apply rules and policies, and monitor spending in real time as their AI usage increases.
Portkey says it processes more than 500 billion LLM tokens through 125 million requests every day. The company also manages over $500,000 in daily AI spending for more than 24,000 organizations around the world. Some of its well-known clients include Postman and Snorkel AI.
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