Permit.io, a New York-based authorization-as-a-service provider, has secured $8 million in Series A funding.
SaaS Investors
The round was led by Scale Venture Partners, with participation from NFX, Verissimo Ventures, Roosh Ventures, Firestreak, 92712, and other existing investors.
Founded in 2000, Scale Venture Partners is a venture capital firm based in Foster City, California. The firm prefers to invest in software as a service and cloud tech sectors.
Scale Partner Eric Anderson joining the board of directors.
Permit.io Use of Funds
With the Series A funding, The company plans to scale its operations to meet growing demand, expand its sales presence in the U.S., and further enhance its unique interfaces.
About Permit.io
Founded in 2021, Permit.io is a developer of a full-stack authorization as a service platform designed for software developers and product teams. The company's platform helps clients build applications and deploy them with a simple SDK and sidecar and maintains an open policy admin layer. The company has already secured partnerships with over 20 enterprises, including industry leaders like Schneider Electric, SignifyHealth (part of CVS), and Salt.Security. Its tech is already in use by industry leaders like Accenture, Cisco, Tesla, and others.
Funding Details
Company: Permit, Inc.
Raised: $8.0M
Round: Series A
Funding Month: February 2024
Lead Investors: Scale Venture Partners
Additional Investors: NFX, Verissimo Ventures, Roosh Ventures, Firestreak, 92712
Company Website: https://www.permit.io/
Software Category: Authorization Solution
Source: https://www.businesswire.com/news/home/20240213359627/en/