Fundraising Fox

Fly.io

YC W20

Chicago, US · Founded 2017 · Delaware corporation · 48 employees · 12 known investors

Fly.io provides infrastructure and platform services for deploying and running applications in a distributed, globally-connected environment. The platform serves developers and engineering teams building cloud-native applications.

Also known as Fly · Fly.io

Founders & leadership· Y Combinator alumni (W20)

Fly.io was founded in 2017 by Michael Dwan, Jerome Gravel-Niquet, and Kurt Mackey.

MDMichael Dwan
Michael Dwan𝕏FounderformerMichael Dwan is a software designer and engineer based in Colorado who focuses on developer tools.
JGJerome Gravel-Niquet
Jerome Gravel-Niquetin𝕏FounderFounder of Fly.io, a platform for deploying and running distributed cloud-native applications. He has worked in web development from an early age, with a focus on web application design covering interface, usability, and information architecture.
KMKurt Mackey
Kurt Mackeyin𝕏CEOPreviously cofounded the database hosting company Compose, Inc., serving as its CEO from 2013 to 2016. Earlier roles included Director of Technology for Ars Technica at Conde Nast, nearly a decade of engineering work at Ars Technica, cofounding Mubble Inc, and leading research and development at Server Central.
SJ
Scott JohnstonExecutive
MC
Matthew CunninghamExecutive
CMChris McCord
Chris McCordin𝕏Developer

Board

MCMartin Casado
Martin Casadoin𝕏Board directorGeneral Partner at Andreessen Horowitz
DDDaniel Docter
Daniel DocterinBoard directorManaging Director at Dell Technologies Capital

Investors · 12

Also in the syndicate · 1

Geodesic

Reported raises · per SEC filings

Form D private placements

$25M disclosed across 1 of 4 rounds · 2021–2026

$25MraisedJul 2026 · 6 investors · Computers
Rule 506(b)
Officers, directors & promoters on the filing
  • Scott JohnstonExecutive Officer, Director
  • Matthew CunninghamExecutive Officer
  • Kurt MackeyDirector
  • Martin CasadoDirector
  • Daniel DocterDirector
Offering amount
$25M
Amount sold
$25M
First sale
Jul 2026
Incorporated
Corporation, Delaware
Federal exemptions
06b
Full filing on SEC EDGAR ↗

Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.

Valuation · disclosed

Disclosed events
$467Mvaluation at Series CJan 2023
filing ↗

Source: SEC prospectus filings, and round valuations the company or its investors disclosed — follow each entry's link for the claim.

The YC application· Winter 2020 batch

What they told YC

What is your company going to make? Please describe your product and what it does or will do.
The founders are building a global hosting service where developers package their project and deploy it via a CLI, after which the platform scales the application up and down in the cities where their users are located.

Summarized from the founders' answers on their Y Combinator profile.

Company profile

researched Aug 2026

Fly.io operates a cloud infrastructure platform for running applications and, increasingly, AI agent workloads on hardware-isolated virtual machines. Its long-standing product, Fly Machines, converts containers into micro-VMs that boot in under a second, run in multiple regions close to users, and can scale out to tens of thousands of instances; the platform is driven by the flyctl command-line tool and supports any workload that can be packaged in a container, alongside persistent volumes, private networking, anycast edge routing, managed Postgres, logs, metrics and TLS certificate provisioning.

The company's current primary focus is "computers for agents." Its Sprites product provides semi-disposable but persistent Linux environments in which an agent gets its own hardware-isolated box that checkpoints itself automatically, sleeps when idle and wakes with its filesystem, running services and installed dependencies intact, with rollback to earlier checkpoints. A Sprite Block Device (in private beta as of the site's description) backs disks with object storage, growing to as much as 100 GB per Sprite with billing based on bytes written, and supports forking or cloning drive templates. Sprites Connectors act as an API gateway holding credentials so that Sprites can reach services such as OpenRouter, GitHub, Slack or arbitrary HTTP APIs without tokens being placed on the machine, with per-Sprite, per-label or per-endpoint permissions and centralized key rotation. Stated use cases include coding agents and harnesses, personal assistant agents, per-tenant MCP servers, execution of untrusted code, and hosting agent-built applications, each of which receives an HTTPS URL.

Fly.io runs its own hardware in colocation facilities rather than reselling hyperscaler capacity, an approach it describes as an economics and margin decision. The company reports 18+ regions on its site, having launched with 19 regions and cited 33 regions in a 2023 blog post; its public status page lists regional availability across North America, Europe, South America, Asia, Africa and Australia.

Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.

Key figures

latest reported
Agent-native customer organizationsAug 20268,000 organizations
Compliance (HIPAA/SOC2) plan priceJan 2026$99
CustomersAug 202637,000 customers
Discount for machine reservationsJan 202640%
Machine boot timeJan 2026<1 second
Maximum disk per SpriteJan 2026100 GB
Paid support entry priceJan 2026$29
RegionsJan 202618+
Revenue growth from largest agent-native customersAug 2026nearly 12x over the prior 12 months
Share of revenue from agent-native companies among top 100 customersAug 202666%
Total publicly reported fundingAug 2026roughly $130-136 million
Typical deploy timeJan 2026500 milliseconds
Uptime SLAJan 202699.9%

Company-reported or press-reported figures, each dated to when it was claimed — not independently audited.

Competitors · 7

by search overlap
Docker416 shared keywordsDocker provides containerization and application development platform tools including sandboxes, governance, and security solutions for developers.
Qiita364 shared keywordsQiita is a knowledge-sharing platform where engineers post, share, and edit technical articles, and follow users and tags. It serves software engineers and developers, primarily in Japan, as a community content and knowledge-sharing service.
Render338 shared keywordsRender provides cloud infrastructure and hosting services for software teams to deploy applications at any scale, from prototypes to large distributed systems, with a focus on reliability and uptime.
Cloudflare Turnstile328 shared keywordsCloudflare provides a global cloud network platform delivering security, performance, and development services through sixty-plus integrated services including SASE, application security, and full-stack development infrastructure.
Netezza302 shared keywordsIBM is a global technology company whose business spans enterprise software (including Red Hat, HashiCorp, and Confluent), IT infrastructure such as mainframes, servers, and storage, and IT consulting services. The company is also investing heavily in quantum computing and AI-based enterprise offerings, including its Lightwell open-source software security clearinghouse and the Anderon quantum wafer foundry.
Railway280 shared keywordsRailway builds a cloud computing platform designed to reduce deployment friction and simplify the software development lifecycle. The service targets developers and engineering teams who want to deploy applications with minimal configuration overhead.
Heroku245 shared keywordsHeroku is a cloud-based platform-as-a-service (PaaS) for building, deploying, and operating applications. It provides developer collaboration tools including CI/CD pipelines, automated testing, and team management features to help app development teams ship products faster.

Companies competing with Fly.io for the same Google search keywords, organic and paid, via search-intersection analysis.

Timeline · 7

launches, deals, and filings
Aug 2026
Fly.io raises $25M Series D co-led by Dell Technologies Capital and Intel Capital

Fly.io announced a $25M Series D co-led by Dell Technologies Capital and Intel Capital, with participation from Andreessen Horowitz, EQT, Geodesic and Y Combinator, to accelerate its "computers for agents" strategy. An SEC Form D showed approximately $23.2 million sold of a roughly $25 million target beginning in early July 2026 under a Rule 506(b) offering.

$25M source ↗

Aug 2026
Martin Casado and Daniel Docter join board of directors

Martin Casado, general partner at Andreessen Horowitz, and Daniel Docter, managing director at Dell Technologies Capital, joined Fly.io's board of directors in connection with the Series D.

source ↗

Aug 2026
Scott Johnston named CEO; founder Kurt Mackey moves to advisory/board role

Former Docker CEO Scott Johnston became CEO and a board member of Fly.io, while founder Kurt Mackey transitioned to an advisory/board role focused on technical vision.

source ↗

Jan 2026
Sprites: persistent, checkpointing Linux environments for agents

Fly.io introduced Sprites, Firecracker-based persistent Linux environments with instant create/checkpoint/restore, durable object-storage-backed disks, idle-aware metering and credential-holding Connectors. The Sprite Block Device was in private beta.

source ↗

Jan 2023
Fly.io raises $70M led by EQT Ventures

Fly.io announced an additional $70M round led by EQT Ventures, reported at a roughly $467 million post-money valuation.

$70M source ↗

Jul 2022
Fly.io raises $25M led by Andreessen Horowitz

Fly.io raised $25M from A16Z and existing investors including Intel Capital and Dell in July, as disclosed in a company blog post.

$25M source ↗

Jan 2022
Fly Machines launched

Fly.io shipped Fly Machines, hardware-isolated VMs created from containers that can be started via an API call and boot in under a second.

source ↗

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

Legal entities · 1

corporate structure
Fly.ioDelaware

In the news

Research sources · 8

primary sources listed

8 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Fly.io do?
Fly.io runs hardware-isolated Linux VMs and persistent "Sprite" environments for AI agents and globally distributed apps.
Who founded Fly.io?
Fly.io was founded by Michael Dwan, Jerome Gravel-Niquet, Kurt Mackey in 2017.
Who are Fly.io's investors?
Fly.io's investors include Abstract Ventures, Andreessen Horowitz, Friale, Geodesic Capital, Intel Capital, Page One Ventures, Rising Tide, Ritual Capital and 3 more.
How much funding has Fly.io raised?
Fly.io has disclosed $25M raised across 1 of its 4 known rounds.
Where is Fly.io headquartered?
Fly.io is headquartered in Chicago, US.