Ukraine’s Roosh Ventures joins $8M round for Permit.io

Ukrainian VC firm Roosh Ventures has invested in Permit.io during its $8 million Series A funding round. Other investors included the American fund Scale Venture Partners, who led the round, NFX, Verissimo Ventures, Firestreak, and 92712 also investing in the company. Roosh told the details to AIN.Capital.

About Permit.io

• Permit.io is a startup from Israel, founded by former engineers from Facebook, Microsoft, and Rookout. The startup’s technologies are already used by more than 20 companies, including Tesla, Accenture, Cisco, Schneider Electric, SignifyHealth (part of CVS, an American corporation in the field health care), Salt.Security, and others.

• The startup enables developers to bake-in permissions and access control into any product in minutes. Created on strong open source foundations, the platform builds on top of OPA+OPAL as a service, providing the API and UI access-control interfaces that make it simple to shift security left.
• The fresh capital will allow the company to quickly scale, promoting a new unique product on the market — Permit.io Approval Flows, which simplifies the management of authorization processes in applications.

Who are the investors?

Roosh Ventures became one of the investors in the startup. It is a Kyiv-based entrepreneurs-led, generalist VC firm investing in early-stage companies during their pre-seed to Series A round across the EU and US markets. The firm was co-founded by Kyle Ukho, Serhiy Tokarev, and Den Dmytrenko on the basis of Roosh.

Permit is a game changer among access management solutions, automating manual work and saving valuable time for engineers who need to shift their focus from product improvement to application support and administration. The active support of the community and the leadership of Or and Asaf, seasoned entrepreneurs and industry veterans leading a strong technical and business team, only strengthens our confidence in the company’s chosen direction and growth rate. Roosh Ventures is proud to be part of Permit.io’s journey and we look forward to the future,

Ivan Taranenko, Associate at Roosh Ventures, comments on the deal.

Other backers included the American fund Scale Venture Partners — as the lead investor this round, and NFX, Verissimo Ventures, Firestreak, and 92712 — as participants.