# Solo.io

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/solo-io

- Industry: IT Infrastructure
- Headquarters: Cambridge, US
- Website: www.solo.io
- Total disclosed funding: $167M
- Latest round: Series C (Oct 4, 2021)
- Investors on record: 3

## About

Solo.io, Inc. is a technology company specializing in cloud-native API management and service connectivity, offering solutions that enhance automation, security, and observability across diverse environments.Founded in 2017 by Idit Levine, Solo.io is headquartered in Cambridge, US. The company focuses on API management and service connectivity, enabling clients to modernize their infrastructures. In October 2021, Solo.io raised USD 130 mn in Series C funding led by Altimeter Capital Management with participation from Redpoint Ventures and True Ventures, bringing the total amount raised to USD 130 mn and achieving a current company valuation of USD 1,015.423 mn.Solo.io provides cloud-native solutions such as Gloo Gateway and Gloo Mesh, which automate security and manage APIs and microservices across multi-cluster setups. These products are designed to address the challenges businesses face during their cloud transitions, including security and traffic management. The company serves clients like Vonage, OfferUp, ParkMobile, and Domino’s UK globally, particularly in North America and Europe.Solo.io primarily generates revenue through subscription-based models for its products, Gloo Gateway and Gloo Mesh. Clients typically enter multi-year contracts that allow for tiered pricing based on the number of APIs managed and deployment complexity. Additionally, partnerships with enterprises seeking cloud-native solutions contribute to its revenue, ensuring ongoing customer support and engagement.Following the Series C funding in October 2021, Solo.io, Inc. plans to utilize the USD 130 mn to enhance its worldwide go-to-market strategy, invest in product development, and expand its professional services and support offerings. The company is focused on increasing its footprint in emerging markets and exploring new geographic regions to better serve its clients.

## Funding rounds

- Series C, Oct 4, 2021, $130M — Redpoint Ventures, True Ventures, Altimeter Capital
- Series B, Aug 31, 2020, $23M — Redpoint Ventures, True Ventures
- Series A, Aug 24, 2018, $11M — Redpoint Ventures, True Ventures
- Seed, Sep 12, 2017, $2.5M — True Ventures

## Investors

- True Ventures (https://capitalatlas.ai/funds/true-ventures) — Seed, Series A, Series B, Series C
- Redpoint Ventures (https://capitalatlas.ai/funds/redpoint-ventures) — Series A, Series B, Series C
- Altimeter Capital (https://capitalatlas.ai/funds/altimeter-capital) — Series C