Port Secures $35M in Series B Funding, Integrates LLMs to Enhance Developer Experience

Developer tooling startup Port sails away with $35M in funding - SiliconANGLE

DevOps platform startup Port IO Ltd. has closed on its biggest funding round to date, raising $35 million in an investment led by Accel. The Series B round also saw participation from Bessemer Venture Partners and existing backers such as Team8 and TLV Partners, and brings the company's total amount raised to date to $58 million. In addition to today's round, Port announced that its platform now integrates with a wide range of popular large language models, which paves the way for developers to leverage various generative AI assistants. Port is the creator of an internal portal for developer teams that encompasses the full scope of the work they're expected to perform. As the startup explains, modern developer teams are no longer tasked with just writing code, but a whole range of related work. For instance, they're also responsible for delivering new features, handling incidents and outages, managing the underlying cloud infrastructure, and ensuring that their applications and systems comply with privacy, security and regulatory standards. Port co-founder and Chief Executive Zohar Einy (pictured left, with co-founder and Chief Technology Officer Yonatan Boguslavski) says all of these added responsibilities cause a lot of chaos for developers. They're having to juggle multiple software systems and tools, with no clear workflow outlined, resulting in lots of confusion and inefficiencies and lower productivity, he argues. Port aims to resolve this. Using its software, developers can manage the full scope of their expanded duties through an internal developer portal that acts as their "work hub." Port unifies all of the various tools developers need under one roof, so to speak. The company says the platform is highly adaptable, integrating with existing technology stacks to create a kind of operating environment for research and developer teams. Using Port, developers can quickly identify their most pressing tasks and perform various jobs, such as spinning up new microservices, with just a few clicks, without ever leaving Port's portal. By doing all of their work in Port, developers can also ensure they remain in full compliance with their company's various policies. "Our mission is to empower teams to start left, ensuring that everything is secure, compliant, and high-quality by design," Einy said. "Port provides a dynamic, customizable platform that fits into each company's DNA and evolves with their needs, enabling all stakeholders to collaborate effectively and maintain organizational standards." It's an appealing concept and Port has seen a lot of traction since closing on its last funding round in September 2023. The company says its revenue has increased by more than seven times in the last 12 months, while its customer base has expanded more than eightfold in that time. Its new customers include globally renowned enterprises like GitHub Inc., LG Electronics Ltd. and British Telecom Plc. With the launch of its new LLM integration, Port is anticipating yet more growth, the company said, since its platform will become much more helpful, further boosting developer productivity. Customers will be able to integrate their choice of third-party LLMs, which will serve as the foundation of a variety of generative AI assistants that live inside their customized developer portal, ready to serve their users at any moment. These integrations are made possible by the open nature of Port's platform. According to Port, some example use cases including AI assistants that can investigate security breaches and outages and provide details in clear language. It can clearly explain error messages from failed build logs, recommending internal libraries and components to developers based on the feature they're trying to create, and many more. Constellation Research Inc. analyst Holger Mueller said the LLM integrations will be welcomed by Port's users, since any automation of non-coding tasks will enable their developers to spend more time coding. Amit Karp of Bessemer Venture Partners said the rise of DevOps has transformed the way software is created and updated, helping organizations to push out new apps and introduce new features faster than ever. But he thinks companies can see even more benefits by taming the complexity DevOps has introduced. "Port has experienced a meteoric rise because it arrived at a key moment, serving as the missing piece that completes the DevOps puzzle," Karp said. "Customizable internal developer portals enable organizations to finally unlock the true promise of DevOps."

Port raises $35M for its end-to-end Internal Developer Portal

Port empowers teams to fully own the development lifecycle by unifying software development tools and workflows in a central hubCompany also secures GitHub as a customer, rolling out its offering to GitHub's engineering team TEL AVIV, Israel, Oct. 15, 2024 /PRNewswire/ -- Port, the leading internal developer portal, announced today $35 million in Series B funding, bringing its total funding to $58M to date. The round was led by Accel, with participation from Bessemer Venture Partners and existing investors, including Team8 and TLV Partners. The highly oversubscribed round comes on the heels of Port's exceptional growth, with a 7x year-over-year increase in revenue. Port's user base has expanded eightfold since its Series A funding just one year ago, with customers including leading brands like LG, British Telecom and GitHub, which recently selected Port as the internal developer portal for their engineering team. Additionally, Port announced the integration of LLMs into its platform, enabling organizations to enhance their developer experience with generative AI. Modern software development has evolved dramatically, with the responsibilities of developers expanding far beyond writing code. They are now responsible for the delivery process of features, managing cloud resources, handling incidents and outages, as well as complying with the organization's standards for security, quality, and compliance. This expanded responsibility, coupled with the intricacies of the modern development ecosystem, has created a chaotic situation where developers are constantly seeking guidance, creating tickets for tasks outside their core competencies, and relying heavily on tribal knowledge to navigate the landscape. This not only slows down development but also exacerbates quality, security, and compliance issues. Port enables developers to handle the full scope of their expanded role by providing an internal developer portal that acts as a central work hub. The portal unifies all of the tools and workflows developers need to fully own the software development life cycle within an intuitive interface. The open platform is highly adaptable, integrating with the existing tech stack behind the scenes to create a standardized operating environment for R&D teams. The portal allows developers to perform complex tasks, like spinning up a new microservice, in just a few clicks with all best practices baked in. This approach not only enhances developer productivity but also ensures compliance with company policies. "Development teams today are overwhelmed with responsibilities that extend far beyond writing code, leading to operational chaos and a degradation of standards," said Zohar Einy, co-founder and CEO of Port. "Our mission is to empower teams to start left, ensuring that everything is secure, compliant, and high-quality by design. Port provides a dynamic, customizable platform that fits into each company's DNA and evolves with their needs, enabling all stakeholders -- from developers to security teams to leadership -- to collaborate effectively and maintain organizational standards. Port empowers teams to be self-sufficient owners of the software they develop, restoring agility and driving significant business impact." Port is also announcing the integration of popular LLMs with its platform, allowing organizations to embed AI capabilities directly into their customized developer portals. The open nature of Port's platform enables each organization to leverage AI models according to their needs. Popular uses include: investigating incidents using natural language search to quickly find root causes and relevant experts, automatically generating clear error messages from failed build logs, and recommending internal libraries and components to developers based on the feature or service they're currently working on. "We see the internal developer portal market as the next big must have in software development, with the potential to rival the impact of APM or Git providers," said Matt Robinson, Partner at Accel. "Port has emerged as the #1 product in this space due to the platform being highly customizable while also maintaining agility and ease of use. Zohar and Yonatan's dev-first approach sets them apart and their exceptional growth speaks volumes about the team's product execution and market fit." "Over the past decade, organizations have invested heavily in DevOps, automating processes and adopting best practices to drive agility," said Amit Karp, Partner at Bessemer Venture Partners. "However, they haven't reaped the full benefits due to the increased complexities introduced. Port has experienced a meteoric rise because it arrived at a key moment, serving as the missing piece that completes the DevOps puzzle. Customizable internal developer portals enable organizations to finally unlock the true promise of DevOps -- improved DORA metrics, streamlined workflows, enhanced agility, adherence to standards, and empowered developers." About Port Port is the leading platform for creating internal developer portals, empowering all stakeholders in the software development lifecycle. Founded in 2022 by Zohar Einy and Yonatan Boguslavski, it emerged from the founders' experience building an internal developer portal for Israel's elite 8200 intelligence unit, which served over 2,000 developers. Now with 100 employees and tens of thousands of users, Port has rapidly become the de facto standard in the market, providing a central hub that unifies tools, knowledge, and workflows for developers, security teams, and leadership alike. The platform's customizable interface enables seamless collaboration and ensures compliance with organizational standards, from setting up microservices to managing cloud resources and handling incidents. Port's open platform integrates with existing tech stacks and incorporates AI capabilities, adapting to each company's unique DNA. By streamlining processes and enhancing visibility, Port drives significant business impact, improves DORA metrics, and unlocks the true promise of DevOps for companies of all sizes. To learn more about Port's internal developer portal platform, visit getport.io. View original content:https://www.prnewswire.com/news-releases/port-raises-35m-for-its-end-to-end-internal-developer-portal-302276418.html SOURCE Port Market News and Data brought to you by Benzinga APIs