An API security startup called Traceable AI has raised $30 million in investment. Supporters included main investor IVP, Unusual Ventures, Geodesic Capital, Sorenson Capital, and Citi Ventures, the venture division of Citigroup.
The firm plans to strategically grow its sales, marketing, and channel partner programmes globally, support security research projects, and drive product innovation with the financing.
Traceable AI is an intelligent and context-aware solution that supports entire API security, API discovery and posture management, API security testing, attack detection and threat hunting, and attack prevention anywhere APIs are live. It was founded by serial entrepreneurs Jyoti Bansal and Sanjay Nagaraj.
Read also – NJ-based CoreWeave Secures $1.1 billion in Funding – FUNDING NEWS
Matt Carbonara, Managing Director at Citi Ventures said,”Traceable AI has set the benchmark for API security across a wide range of enterprises, including financial institutions, healthcare providers, retail giants, and global telecom providers. Traceable’s commitment to serving customers in nearly every sector reflects their deep understanding of the diverse API security challenges businesses face. Their platform delivers the visibility and protection required to secure thousands of API endpoints and over 500 billion API calls per month, Traceable’s commitment to innovation and focus on customer success are why we’re excited to partner with them. Citi Ventures looks forward to supporting Traceable’s growth as they address a critical challenge in the industry and scale solutions that empower businesses worldwide.”
Jyoti Bansal, CEO and co-founder of Traceable said, “At Traceable AI, we’re driven by the mission to make every API a source of secure innovation and remove any potential risks, The recent attention Traceable has received from enterprise customers, security practitioners, and investors alike underscores that organizations understand the strategic importance of API security. This investment accelerates our ability to help businesses innovate fearlessly with APIs, knowing they have unmatched protection. It strengthens our commitment to serve large enterprise customers and pioneer new solutions in API security.”
Steve Harrick, general partner at IVP said,”The explosive growth of APIs presents both huge opportunities and critical security challenges. Traceable’s leadership in this space is undeniable, delivering an innovative and differentiated solution that organizations need to thrive in this API-driven world, IVP is proud to back Traceable and Jyoti once again to fuel their continued success and rapid progress. Traceable’s mission to secure APIs is transforming the way businesses operate and helping organizations innovate with confidence.”
About Traceable AI
All API security, API discovery and posture management, API security testing, attack detection and threat hunting, and attack prevention are powered by Traceable’s intelligent and context-aware solution, regardless of where your APIs are hosted. Businesses may reduce risk and optimise the value that APIs provide to their clients by utilising traceable APIs.
