Traceable AI, at the forefront of API security, secured a $30 million strategic investment led by IVP, with participation from Citi Ventures, Geodesic Capital, Sorenson Capital, and Unusual Ventures. This investment emphasizes the increasing awareness of and need for robust API security solutions across various industries. The company’s impressive 300% YoY growth showcases its capability in addressing the escalating need for API protection in the enterprise domain. Traceable AI’s platform is acclaimed for providing visibility and defense for thousands of API endpoints, steering more than 500 billion API calls monthly. With a clientele that spans financial, healthcare, retail, and telecommunications sectors, Traceable AI has established a diverse and critical market presence. Citi Ventures highlighted Traceable AI’s innovative solutions and consistent evolution in serving the unique challenges of customers. The investment paves the way for expanded product development, enhanced security research, and strategic growth of sales and marketing initiatives. Jyoti Bansal, CEO, stresses on the company’s vision for secure API innovation, while IVP General Partner Steve Harrick underlines Traceable AI’s contribution to operational transformation in businesses. The timing of this financial boost is linked to the necessity for preemptive API security measures, a need highlighted by Traceable AI’s own 2023 Global State of API Security Report indicating a rise in data breaches and API-related security incidents.

Cybersecurity, Information Technology, Financial Services,Global, United States

Traceable AI Secures $30M Strategic Investment Round