UPDATED 09:00 EDT / FEBRUARY 15 2024

SECURITY

Full-stack authorization startup Permit.io raises $8M to scale up its platform

Full-stack authorization-as-a-service startup Permit.io today announced that it has raised $8 million in new funding to scale up its platform and build its sales presence in the U.S.

Founded in 2021 as Permit Inc., the company offers a platform designed to eliminate the need for developers to create permissions from scratch. The company provides a plug-and-play, full-stack framework that allows developers to implement a secure and flexible authorization layer within minutes, allowing them to focus more on building their applications rather than getting bogged down with the complexities of authorization mechanisms.

Permit.io argues that as cloud-native apps have become the norm, every app now requires fine-grained authorization, locking developers in a loop of repetitive operational tasks instead of working on core features. In addition, companies also need more engineering resources just to deal with permissions. Permit.io addresses this problem and claims to save companies millions of dollars each year.

The platform offers a no-code policy editor, making it accessible for teams with varying technical expertise to manage permissions securely. The platform supports Policy as Code, offering transparency and ease of management through Git, application programming interfaces or its no-code UI, ensuring that developers can easily embed authorization measures without requiring extensive coding or deep knowledge of authorization principles.

Additional Permit.io features include infrastructure for decoupling authorization policy from application code, back office tools for no-code management of authorization by various stakeholders within an organization and prebuilt user interface components for access control. “Our no-code, future-proof solution removes the need for dedicated headcount, maintenance and compute power for setting up authorization across applications,” said co-founder and Chief Executive Or Weis.

The company said it has signed deals with more than 20 companies, including Schneider Electric SE, SignifyHealth Inc. and Salt Security Inc. and has hundreds of thousands of authorized users.

Scale Venture Partners led the Series A round, with NFX Holdings Inc., Verissimo Ventures LLC, Roosh Ventures LLC, Firestreak Industries Inc. and other existing investors also participating. The company had previously raised a round of $6 million in 2022. Scale Partner Eric Anderson will join the company’s board of directors.

In addition to the funding announcement, Permit.io also unveiled Approval Flows, a new feature designed to help enterprises navigate the complexities of modern authorization challenges, including the requirements of managing access for artificial intelligence bots and agents.

Approval Flows offers end-to-end flow management capabilities with customizable components for seamless integration into user interfaces, comprehensive audit logs for tracking flow configurations and authorization checks and compatibility with any authentication and identity provider. The solution aims to streamline the implementation of fine-grained authorization for a robust and flexible system for managing permissions across various application scenarios.

Photo: Permit.io

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