Solo.io Raises $23M in Series B Financing

Solo.io

Solo.io, a Cambridge, MA-based modern API infrastructure company delivering application networking from the edge to service mesh, raised $23m in Series B financing.

The round, which brought total funding raised to date to $37m, was co-led by prior investors Redpoint Ventures and True Ventures.

The company intends to use the funds for product and cloud-native community innovation in 2020, including new strategic, first-to-market product offerings and an industry specification.

Founded in 2017 by Idit Levine, CEO, Solo.io is an API infrastructure company that delivers application networking from the edge to service mesh, helping enterprises adopt, secure, and operate innovative cloud native technologies.

During 2020, the company has developed the following products and initiatives across the focus areas of modern API infrastructure:

  • Service Mesh: Open-sourced and updated Service Mesh Hub for single and multi-cluster service mesh management plane and the industry-first (and only) Developer Portal for Istio to catalog, secure, and expose running APIs to internal and external developers
  • API Gateway: Federated multi-cluster, API gateway management plane and a Developer Portal to catalog, secure, and expose APIs to internal and external developers
  • WebAssembly: Developer experience for WebAssembly for Envoy Proxy to build, share, and deploy WebAssembly modules for Envoy, Istio, and Gloo – and a WebAssembly module image specification to drive industry-wide collaboration and standardization

In addition to the new round, Solo.io is also announcing:

  • Gloo API Gateway 1.5: Includes improvements to multi-cluster failover, security, traffic control, and the dev-to-ops experience
  • Developer Portal for Gloo and Istio: Provides enhancements to portal customization, security, and routing
  • New customer Crealogix: io and Crealogix partner to deliver a secure digital banking platform on Kubernetes

FinSMEs

01/10/2020

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