SEC Filing Shows Cloud Platform Solo.io Raised $11.35 Million

An SEC filing indicates that Solo.io has closed a $11.35 million funding round. The new capital comes after the Boston-area company raised $2.5 million in September of 2017.

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The company confirmed the round was closed.

Here’s Who’s Involved

The filing lists three members of Solo.io’s board of directors:

• Idit Levine, the company’s founder and chief executive
• Puneet Agarwal, a longtime partner at True Ventures
• Satish Dharmaraj, a managing director at Redpoint Ventures

Idit Levine is a software engineer and open source community leader who previously worked at companies like Dell EMC, where she focused on cloud and IoT infrastructure.

Although True Ventures and Redpoint Ventures haven’t publicly disclosed their involvement with the company at this time, it’s common for lead or major participating investors to take board seats at companies. Neither Agarwal or Dharmaraj were listed on the regulatory filing for Solo.io’s preceding seed round. That leads us to conclude that Redpoint and True Ventures are investors in Solo.io.

What The Company Is Building

It should be stated from the start that Solo.io has mostly flown under the radar since inception.

The company has released two products with similar names:

• Gloo, a high-performance, platform-agnostic API gateway built atop Envoy. (Envoy is an open source distributed proxy tailor-made to work with large microservice architectures.) According to Gloo’s documentation, the software “aggregates REST APIs and events calls from clients, ‘glueing’ together services in-cluster, out of cluster, across clusters, along with any provider of serverless functions.” Its function-level routing “means that the client and server do not have to speak the same protocol, the same version, or the same language.”
• Qloo, “a GraphQL Server built on top of Gloo and the Envoy Proxy.”

In addition, Solo.io has released a number of open source tools.

Software engineering is, as always, in a state of flux. The latest hotness is microservices. The idea is to de-compose an application into a set of smaller pieces which can be combined and extended as needed, rather than building a single monolithic piece of software.

There’s been a lot of interest in the space recently as companies re-architect their systems and release new tools to usher in a more distributed future of software.

Illustration: Li-Anne Dias