SAN FRANCISCO, Feb. 19, 2026 (GLOBE NEWSWIRE) — Portkey, the unified control plane for production AI, today announced it has raised $15 million in Series A funding led by Elevation Capital, with participation from Lightspeed. Trusted by AI-forward enterprises including Postman, Snorkel AI, and more, Portkey is already processing more than 500B LLM tokens across 125M requests per day, and managing more than $500,000 in AI spend daily for more than 24,000 organizations globally. Portkey will use the Series A financing to expand its AI control plane and scale go-to-market operations.
AI is rapidly becoming core infrastructure for modern enterprises. As companies integrate AI into customer support systems, internal operations, and developer tooling, productivity increases emerge alongside two operational challenges. First, ensuring reliability at scale. Second, controlling unpredictable spending. Portkey is the unified AI control plane that solves both.
“Over the last twelve months, AI stopped being a demo and became a load-bearing system,” said Rohit Agarwal, co-founder and CEO of Portkey. “The moment a company decides AI is mission-critical to their business, they begin to need an operational control plane in the path of AI traffic to enforce policy, provide traceability, manage provider volatility, and keep spend accountable as usage scales.”
Portkey’s control plane is layered on a high-performance AI gateway with built-in governance, observability, reliability, and cost management. Sitting directly in the path of AI traffic, where tokens become dollars, it gives engineering teams operational control while giving finance teams real-time visibility into spend.
“Portkey is the only platform we’re aware of that provides this level of unified control across AI traffic at proven enterprise scale,” said Krishna Mehra, Partner at Elevation Capital. “As AI becomes embedded across products and workflows, and agents begin taking actions autonomously, companies need one in-path system to keep AI reliable and accountable.”
Building the Standard for Enterprise-Grade AI Control
Portkey also announced today that its core enterprise gateway is available for free. By removing cost as a barrier to governance and observability, Portkey enables teams to implement production-grade AI controls into their workflows as soon as they need it. As adoption scales, Portkey is positioning itself as the default control plane for production AI use cases.
Built to Scale at the Pace of AI
Portkey’s mission is to make AI that never breaks operationally achievable, even when models change behavior overnight. Portkey’s AI control plane already automatically detects new models and pricing changes, delivering day-zero support without manual effort. Later this year, the platform will scale to extreme high performance for low-latency use cases and expand governance for agentic systems with tools, permissions, identity, access boundaries, and budget controls, so organizations can scale agent usage without introducing unacceptable operational, financial, or security risk.
To learn more about Portkey, visit portkey.ai.
About Portkey
Portkey is the production control plane for AI that never breaks: a unified platform that sits in the path of every model request and agent action to provide governance, observability, reliability, and cost control. As AI becomes critical infrastructure, Portkey gives engineering teams operational reliability while giving finance teams real-time visibility and accountability. Trusted by Fortune 500 enterprises across finance, pharma, and technology, Portkey manages more than $180M in annualized LLM spend, governing more than 180 trillion tokens per year. Backed by Elevation Capital and Lightspeed, Portkey is headquartered in San Francisco, CA. Learn more at portkey.ai.
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