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Solo.io Bags $23M B Round

October 6, 2020

Solo.io secured a $23 million Series B round of financing, bringing the company’s total funding amount to $37 million. Co-led by prior investors Redpoint Ventures and True Ventures, this latest funding round lands amidst continued company, product and cloud-native community innovation in 2020, including new strategic, first-to-market product offerings and an industry specification.

“We launched Solo.io with the understanding that the application network will be critical for growing adoption of microservices architecture and believe that service mesh is the future. In the past few years, we’ve worked closely with our customers to build products that help them modernize their existing applications and make it easier to build and deploy new applications using innovative technologies like Envoy, service mesh, and WebAssembly,” said Idit Levine, founder and CEO, Solo.io. “This latest financing is focused on scaling our operations to meet the rapidly growing customer demand.”

Solo.io delivers API infrastructure that helps enterprises adopt, secure, and operate modern application networks from the edge to the service mesh. The cross-industry move to microservices and cloud-native architecture is API-driven and sets the foundation for developers, partners, and customers to interact with application services quickly, effectively, and securely. Today’s enterprises are actively using Kubernetes and service mesh technologies in production, and with this level of adoption comes a need for more tooling to manage and federate security, traffic routing, observability, and integration points.

“Solo.io continues to deliver on high customer demand for forward-looking cloud-native technologies – and this is a huge part of why we’re doubling down on our investment in the company,” said Puneet Agarwal, partner, True Ventures. “The Solo.io team is setting the cloud-native technology agenda for the industry by leading the effort to make WebAssembly and service mesh accessible to more companies. They have a clear vision of how to bring the advantages of modern technologies to every application – and they’re executing on it effectively."

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