Sergey Tokarev announced Roosh Ventures' investments in a startup whose technologies are used by Tesla and Cisco
The Ukrainian venture fund Roosh Ventures has invested in the startup Permit.io, which allows companies to simplify authorization processes and save time and financial resources. More than 20 top companies, including Tesla, Accenture, and Cisco, are already using the product. The investment was announced on Facebook by Sergey Tokarev, an IT businessman and investor, co-founder of the Roosh investment group.
"Permit.io is a breakthrough solution for access management that automates the manual work of developers, who suffer from the time spent supporting and administering applications instead of focusing on strategic tasks. For example, improving the product", noted the entrepreneur in his post.
Investors in Permit.io include Scale Venture Partners, NFX, Verissimo Ventures, Firestreak, and 92712. In total, the startup raised $8 million in round A - thanks to these funds, it will be able to scale up and expand its presence in the USA.
Artificial Intelligence technologies are increasingly being used in business processes - which means there is a need to control how bots and AI agents access and use data. As a result, developers spend a lot of time creating, managing, and supporting authorization in applications.
This problem is solved by Permit.io, founded by former engineers of Facebook, Microsoft, and Rookout. The startup team developed Approval Flows - a technology for developers that allows safe access to individual files and entire applications.
"Our no-code solution eliminates the need to hire additional staff, maintain, and seek computing power to configure authorization in various applications. The funds raised will help us scale rapidly to meet demand, including expanding our presence in the USA", noted Or Weiss, co-founder and CEO of Permit.io and former co-founder of Rookout.
"Permit is a game-changer among access management solutions that automates manual work and saves precious time for engineers, who have to shift their focus from improving the product to supporting and administering applications", emphasized Ivan Taranenko, Associate at Roosh Ventures.
The user-friendly interface of the platform makes it intuitive even for non-technical specialists. Approval Flows users only need to assign a role to a new colleague for them to automatically gain access and permissions to use all necessary project files.
Currently, the technology can be tested in early access.
The co-founders of the Roosh investment group Denis Dmitrenko and Sergey Tokarev created Roosh Ventures in 2021. Roosh Ventures invests in startups at stages from Pre-seed to Series A across various industries, focusing mainly on corporate SaaS solutions, fintech, gaming, and AI-based products. Roosh Ventures co-invests in promising tech companies alongside major globally recognized funds and targets markets in the EU and the USA. Over three years of its existence, the fund has already invested in well-known startups such as Deel, TheGuarantors, Oura, Pipe, Alma, Playco, Dapper Labs, Arkis, and more than 35 other companies.
