October 16, 2024 at 05:23PM
Port announced $35 million in Series B funding, totaling $58 million to date, aimed at expanding its internal developer portal platform. With a sevenfold revenue increase and major clients like LG and GitHub, Port enhances developer productivity and compliance through an adaptable platform integrating AI capabilities to streamline workflows.
### Key Takeaways from Port’s Press Release
**Funding Announcement**
– Port has secured **$35 million in Series B funding**, totaling **$58 million** in funding to date.
– The funding round was led by **Accel**, with participation from **Bessemer Venture Partners**, and existing investors **Team8** and **TLV Partners**.
– The round was **oversubscribed** and reflects Port’s significant growth.
**Growth Metrics**
– Port reported a **7x** year-over-year increase in revenue and an **eightfold expansion** in user base since Series A funding.
– Notable customers include **LG**, **British Telecom**, and **GitHub**, which has selected Port as its internal developer portal.
**Product Innovations**
– Port has integrated **Large Language Models (LLMs)** into its platform, enhancing developer experience with features such as:
– **Natural language search** for incident investigation.
– Automatic generation of clear error messages from build logs.
– Recommendations for internal libraries based on current tasks.
**Industry Context**
– The responsibilities of developers have expanded to include managing features, cloud resources, and compliance, leading to chaotic workflows.
– Port acts as a **central work hub**, unifying necessary tools and workflows for developers, thus improving productivity and ensuring compliance with company standards.
**Mission Statement**
– CEO **Zohar Einy** emphasizes Port’s goal to empower development teams to adhere to security and quality standards by providing a customizable platform that evolves with organizational needs.
**Market Insight**
– **Matt Robinson** from Accel views internal developer portals, like Port, as the next essential tool in software development, comparable to APM and Git providers.
– **Amit Karp** from Bessemer highlights Port’s role in maximizing DevOps benefits amidst increasing complexities within organizations.
**Company Background**
– Founded in **2022** by **Zohar Einy** and **Yonatan Boguslavski**, Port now employs **100 people** and supports **tens of thousands of users**.
– The platform originated from the founders’ experience in building an internal developer portal for Israel’s elite intelligence unit.
**Conclusion**
– Port aims to streamline software development, enhancing visibility and collaboration across teams while unlocking the true promise of DevOps for organizations of all sizes.
For more information about Port’s offerings, visit [getport.io](http://getport.io).