According to a release on GlobeNewsWire, Cambridge based company named Solo.io, which had been working in secrecy till now, finally went public today after they raised $11 million for their efforts to help organisation moves to cloud-native technologies and platforms. With that as the main aim of their company, they not only disclosed their Serie A funding, but they also released their Gloo Enterprise API Gateway.
The main backer for their platform in the Serie A funding rounds was Redpoint Ventures. True Ventures came in at second place with only two investors in this round of funding which raised $11 million. Not unlike many other companies, Solo.io plans to use the funds from the Serie A funding to grow their production and marketing team and to develop their open source platforms and products.
The startup has many tools to offer. Such as the Gloo Function Gateway, the Supergloo Service Mesh Orchestration Platform, and the Sqoop GraphQL server. These peculiarly named products are aimed at providing Cloud Native platforms for businesses and other organisations and help them adopt cloud-enabled technologies to face the predicted transition to the cloud in the recent future.
“CUSTOMERS who use Gloo to connect between micro services and serverless found that invocation of Lambda is 350ms faster than the AWS API Gateway,” Idit Levine, founder and CEO said.
The platform’s first product, however, is an enterprise version of the Gloo function gateway called the Gloo API gateway which is built on top of the Envoy proxy. It is designed to reconnect incoming API connection to different microservices, traditional applications, and other serverless applications. It takes care of load balancing and other necessary functions to maintain synchronicity and smooth functioning of the inbound connections.
“Gloo also offers them direct money saving, since AWS bills per invocation. In general, Gloo offers money saving because it allows our clients to use the less expensive technologies — like their legacy apps, and sometimes containers — whenever they can, and limit the use of more expensive stuff to whenever it’s necessary.”
Apart from expanding the customer base, the startup aims to invest in customer support and customer success teams. Other investments include efforts into evangelism and education funds for children. They are already helping people out by saving them money when it comes to API gateway connections and in many other Cloud-Based technologies and services. However, they wish to aid the world in more humanitarian missions as well.
“Helping enterprises easily adopt innovative technologies like microservices, serverless and service mesh is our goal at Solo.io,” Levine said.
“Melding different technologies into one coherent environment, by supplying a suite of tools to route, debug, manage, monitor and secure applications, lets organizations focus on their software without worrying about the complexity of the underlying environment.”