Artificial intelligence apps building platform Portkey has raised $15 million in a Series A funding round led by Elevation Capital, with participation from Lightspeed. The company said it will use the new capital to further develop its AI control plane and expand its go-to-market operations.
Positioning itself as a unified control plane for production AI, Portkey is already working with AI-driven enterprises such as Postman and Snorkel AI. The platform currently processes more than 500 billion large language model (LLM) tokens across 125 million requests per day and manages over $500,000 in AI spending daily for more than 24,000 organizations worldwide.
As AI becomes core infrastructure for modern enterprises, organizations are embedding it across customer support systems, internal operations, and developer tools. While this integration drives productivity gains, it also introduces operational challenges—particularly around reliability at scale and unpredictable costs. Portkey’s platform is designed to address both.
“Over the last twelve months, AI stopped being a demo and became a load-bearing system,” said Rohit Agarwal, co-founder and CEO of Portkey. “The moment a company decides AI is mission-critical to their business, they begin to need an operational control plane in the path of AI traffic to enforce policy, provide traceability, manage provider volatility, and keep spend accountable as usage scales.”
Portkey’s control plane is built on a high-performance AI gateway that integrates governance, observability, reliability, and cost management capabilities. Positioned directly in the flow of AI traffic—where tokens translate into dollars—it provides engineering teams with operational oversight while giving finance teams real-time visibility into expenditure.
“Portkey is the only platform we’re aware of that provides this level of unified control across AI traffic at proven enterprise scale,” said Krishna Mehra, Partner at Elevation Capital. “As AI becomes embedded across products and workflows, and agents begin taking actions autonomously, companies need one in-path system to keep AI reliable and accountable.”
In addition to the funding announcement, Portkey revealed that its core enterprise gateway will now be available free of charge. By removing cost barriers to governance and observability, the company aims to enable teams to implement production-grade AI controls from the outset. As adoption increases, Portkey is positioning its platform as a foundational layer for enterprise AI infrastructure.
