Traceable AI, a startup offering services designed to protect APIs from cyberattacks, announced that it raised $60 million in a Series B funding.
The round was led by IVP, with participation from BIG Labs, Unusual Ventures, Tiger Global Management, and several undisclosed angel investors.
The capital will be used for product development, recruitment, and customer acquisition.
Company: Traceable Inc.
Raised: $60.0M
Round: Series B
Funding Month: May 2022
Lead Investors: IVP
Additional Investors: BIG Labs, Unusual Ventures, and Tiger Global Management
Company Website: https://www.traceable.ai/
Software Category: Application and API security
About the Company: Founded by serial entrepreneurs Jyoti Bansal and Sanjay Nagaraj. Bansal and Nagaraj saw the massive adoption of cloud-native architectures firsthand during their time at AppDynamics and founded Traceable, as a result, to protect applications from next-generation attacks. Traceable combines the power of end-to-end distributed tracing, cloud-native integrations, and advanced behavioral analytics to deliver modern application and API security. Traceable applies the power of machine learning and distributed tracing to understand the DNA of the application, how it is changing, and where there are anomalies to detect and block threats, making businesses more secure and resilient.
Source: https://techcrunch.com/2022/05/02/2307940/