Solo.io is the company that assists businesses in the adaptation and development of cloud technologies. Solo.io offers enterprises special tools for changing old applications for new microservices. This means the incorporation of new features into existing applications with no need to rebuild the whole system.
The funding round was led by Altimeter Capital. Among other investors have already participated investors Redpoint Ventures and True Ventures. With recent investments valuation of the company increased ten times, which gave Solo.io the status of the unicorn.
Solo.io was started in 2017 by Idit Levine in Cambridge, Massachusetts. The main idea of the startup is to deliver an application programming interface for managing the application traffic. For this purpose, Solo.io designed Envoy Proxy and Istio open sources. Among the company’s partners are AWS, Azure, Google Cloud, RedHat. The Solo.io team has 70 employees now, and the company plans to hire more mainly focusing on young people and teach them.