PortKey Raises $15M for AI Gateway and Cost Control
AI infrastructure startup PortKey has raised $15 million to expand its AI gateway platform. The company provides centralized routing, observability, and cost optimization tools for enterprises that use a variety of AI models, helping them manage API spend and performance across more than 300 different models.
- The Series A round was led by Elevation Capital, with participation from existing investor Lightspeed, bringing PortKey's total funding to $18 million following a $3 million seed round in August 2023. - A primary use for the new capital is to build a robust governance layer specifically for agentic AI systems, including controls for permissions, identity, access boundaries, and budget guardrails for autonomous workflows. - The platform is currently processing over 500 billion LLM tokens across 125 million requests daily, managing over $500,000 in daily AI spend for clients like Postman and Snorkel AI. - For enterprise compliance, the platform is SOC2 Type 2, ISO 27001, GDPR, and HIPAA certified, enabling real-time policy enforcement and providing a full audit trail for AI requests. -
