Permit.io, a full-stack authorisation-as-a-service provider, has successfully closed a Series A funding round, amassing $8m.
This significant financial injection was spearheaded by Scale Venture Partners, with contributions from NFX, Verissimo Ventures, Roosh Ventures, Firestreak, 92712, and other incumbent investors. Notably, Scale Partner Eric Anderson is set to join Permit.io’s board of directors, further solidifying the partnership.
The company distinguishes itself by offering a no-code, future-proof solution aimed at streamlining the complex process of managing permissions and approvals across applications. This innovative approach effectively eliminates the need for extensive maintenance, dedicated personnel, and computational resources traditionally associated with authorization setups.
The fresh influx of capital is earmarked for several strategic initiatives. Primarily, Permit.io plans to rapidly scale its operations to meet the burgeoning demand for its services. This includes establishing a robust sales presence in the U.S. and doubling down on the development of its unique interfaces, which have set the company apart in the FinTech landscape.
Permit.io has unveiled its latest product, Permit.io Approval Flows, in conjunction with the funding announcement. This pioneering solution is designed to empower enterprises to navigate the increasingly intricate authorization requirements necessitated by the proliferation of AI bots and agents. Approval Flows boasts end-to-end management capabilities, customizable components, comprehensive audit logs, and seamless integration with various authentication and identity providers. This positions Permit.io as a forerunner in addressing the evolving challenges of access control in the digital age.
Eric Anderson, Partner at Scale Venture Partners, expressed his enthusiasm for the project. He said, “Permit fits a hole in the broader identity market we’ve been tracking for a long time. We like startups that build engineering services typically found only in big tech companies and offer them to everyone else. The Permit team has built a full stack solution that we’re excited to support and help grow.”
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