AI applications infrastructure startup Portkey has secured $15 million in a Series A round spearheaded by Elevation Capital, with continued support from existing backer Lightspeed.
Previously, the company raised $3 million in a seed round led by Lightspeed in August 2023.
According to the company, the fresh capital will be used to expand its AI control plane and scale go-to-market operations. The proceeds will also help enhance support for agent-based systems with additional controls around permissions, identity, and budget management, while improving performance for low-latency AI use cases.
Founded in January 2023 by Rohit Agarwal and Ayush Garg, Portkey builds a unified control plane for production AI systems. The platform combines an AI gateway with governance, observability, reliability, and cost management features. Its infrastructure sits in the path of AI traffic, enabling enterprises to manage model usage, enforce policies, and track spending in real time.
The company claims it processes over 500 billion LLM tokens across 125 million requests per day and manages more than $500,000 in AI spend daily for over 24,000 organisations globally. Its customers include Postman and Snorkel AI.
Portkey has also made its core enterprise gateway available for free, aiming to lower the barrier for teams to implement governance and observability controls early in their AI deployments.
