Portkey announced it has raised $15 million in series A funding to scale what it describes as the unified control plane for production AI. The round was led by Elevation Capital, with participation from Lightspeed.
The company said the new capital will support the expansion of the infrastructure layer enterprises rely on to run AI systems reliably and accountably as usage shifts from experimentation to mission-critical deployment.
Portkey positions itself as a high-performance AI gateway with built-in governance, observability, reliability, and cost management. Operating directly in the path of AI traffic, the platform enforces policies in real time, routes traffic across providers and models, provides request-level observability, and tracks spending as it occurs. The company says this unified approach gives engineering teams greater reliability, finance teams clearer accountability, and leadership improved visibility into AI-related costs and operations.
According to Portkey, AI is increasingly powering customer support, underwriting, coding, and other core business functions. As a result, operational challenges have evolved beyond concerns such as hallucinations and bias to include API failures, rate limits, unpredictable pricing changes, and a lack of budget transparency. The company argues that enterprises require an infrastructure layer capable of absorbing volatility across models, providers, and agent frameworks while maintaining governance and cost controls.
Over the past three years, Portkey says it has operated in the critical path of enterprise AI systems, supporting large-scale production workloads. The company reports processing more than 500 billion tokens daily across over 120 million daily requests, managing more than $500,000 in daily AI spend, and over $180 million in annualized spend under management. It also states that more than 24,000 organizations use the platform, with support for over 60 providers and 1,600 models.
Portkey added that Fortune 500 enterprises across finance, pharmaceutical, and technology sectors rely on its platform as part of their production AI infrastructure. Following what it describes as proving its architecture at scale, the company said it is making its basic enterprise gateway available for free to provide production-grade controls from the outset.
Looking ahead, Portkey plans to focus on three priorities: expanding go-to-market efforts to meet enterprise demand; building governance capabilities for agentic AI systems, including permissions, identity controls, access boundaries, and budget guardrails; and strengthening platform infrastructure to support higher-volume workloads, real-time use cases, and rapid support for new models and pricing changes.
The company said the new funding will help it scale operations, deepen governance capabilities for autonomous AI systems, and continue investing in the infrastructure layer it believes enterprises will require as AI becomes increasingly central to operations.
