Solo.io, a company helping enterprises adopt and operate innovative cloud native technologies like microservices, serverless and service mesh, has raised $11 million in Series A funding led by Redpoint Ventures, with participation from seed investor True Ventures.
Founder Idit Levine started Solo.io with the vision to unify application development in a world in which software dominates but much of that software is aging. She saw that while new applications would start with new approaches, successful enterprises would need a way to continue to get value from existing software investments that coexist with the fast-moving new platforms. According to Solo.io, enterprises are becoming multi-modal and need transition paths to move from the old to the new.
Solo.io will use the funding to accelerate investment on its open source and enterprise product development, sales and marketing to meet growing market demand for its suite of products.
At the same time, Solo.io has unveiled its newest product, Gloo Enterprise (GlooE), an enterprise grade API gateway based on Solo.io’s open source Gloo project. GlooE is designed to bring enterprise users to the forefront of modern technologies at the pace that best fits them and supports them in maintaining a competitive edge as new technologies emerge.
“Solo.io makes migrating to cloud native architectures seamless and easy,” said Satish Dharmaraj, partner, Redpoint Ventures. “Founder and CEO Idit Levine is an incredibly impressive technical leader. In the GlooE platform, Levine and her team have created something that helps enterprises realize the business benefits of distributed architectures and open source software without having to rewrite or fork lift the entire existing code base. The scale of that achievement is hard to overstate.”
Solo.io’s newest product, GlooE, along with Solo.io’s SuperGloo service mesh orchestrator, adds enterprise features including audit controls, single-sign-on and advanced security. GlooE enables enterprises to ‘glue’ application components together from different paradigms to create all new functionality and to gradually migrate to multi-cloud at a pace that suits them with the confidence that comes with full enterprise support.
“Helping enterprises easily adopt innovative technologies without making drastic, painful changes to their existing software portfolio is our goal at Solo.io,” said Idit Levine, founder and CEO of Solo.io. “It helps enterprises focus on the value software brings to their business. Business leaders want to focus on business. They don’t want technology dictating business outcomes.”