Port raises $100M at $800M valuation to take on Spotify’s Backstage

Port Raises $100M at $800M Valuation to Take on Spotify’s Backstage

Spotify is synonymous with music streaming, but the company also has a popular developer-tool side-hustle called “Backstage.” This open-source project allows companies to build their own internal developer portals, which include a catalog of developer tools along with visualizations of the work the tools have done and other metrics. However, like many open-source projects, Backstage is a build-it-yourself option.

Israeli startup Port has been gaining customers such as GitHub, British Telecom, and LG with a proprietary Backstage competitor that not only manages developer tools but also AI agents. On Thursday, Port announced that it raised a fresh $100 million Series C round led by General Atlantic, with participation from Accel, Bessemer Venture Partners, and Team8. The round values Port at $800 million, bringing its total funding to date to $158 million.

The company’s product, Port, helps manage and orchestrate AI agents and developer tools, addressing a common problem faced by many companies – managing chaos within their developer ecosystems. Port co-founder and CEO Zohar Einy explained that developers want to take AI beyond just coding to resolve incidents, security issues, and other tasks that were previously handled manually.

Einy stated, “Developers want to take AI beyond just coding. They want it to resolve incidents, resolve security issues. They want it to take care of the release management.” To address this need, Port offers a layer of orchestration that measures agent performance and adds a human-in-the-loop to approval processes. A feature called “context lake” defines the data sources, context memory, and guardrails for agents.

With its giant new war chest of cash, big-name customers, and tier-one VCs, Port looks like an agentic management startup to watch. However, Port faces significant competition in the market, with numerous companies like LangChain, UiPath, Cortex, and more vying for the same space.

Source: Link