ngrok, San Francisco, CA-based API-first ingress-as-a-service platform, announced that it closed $50 million in Series A funding.
The round was led by Lightspeed Venture Partners with participation from Coatue.
With its first fundraiser and after widespread organic adoption, ngrok will scale to meet the increasing demand for its simplified, API-first ingress-as-a-service platform across a variety of enterprise use cases.
“Traditional networking requires infrastructure teams to operate legacy proxies, load balancers, or VPNs, which is a slow, manual process. As developers face substantial pressure to deliver applications faster, they need more self-service and automation,” said Alan Shreve, founder, and CEO, of ngrok.“ngrok is redefining application connectivity and control with a simplified, API-first approach to ingress that helps developers get apps online faster and run them anywhere while enabling all the necessary security controls and working with the tools they love.”
ngrok tripled the size of its team over the past 12 months and is hiring across all business units.
Company: ngrok, Inc.
Raised: $50.0M
Round: Series A
Funding Month: December 2022
Lead Investors: Lightspeed Venture Partners
Additional Investors: Coatue
Company Website: https://ngrok.com/
Software Category: API-first Ingress-as-a-service platform
About the Company: ngrok is a simplified, API-first ingress-as-a-service platform. More than 5 million developers at companies like Zendesk, Copado, and Veritas trust ngrok to get their apps online faster and keep security happy. ngrok’s simplicity has made it a de facto standard tool among developers, and the world’s top technology brands — including Microsoft, GitHub, Okta, Shopify, Zoom, and Twilio — recommend it throughout their documentation. The company is venture backed by Lightspeed Venture Partners and Coatue.
Source: https://www.globenewswire.com/news-release/2022/12/13/2572855/0/en/ngrok-Raises-50M-in-First-Fundraise-to-Meet-Demand-for-Frictionless-Application-Ingress.html