May 1, 2024 at 02:58PM
San Francisco startup Traceable AI secured $30 million in venture capital from investors including Citi Ventures, IVP, Geodesic Capital, Sorenson Capital, and Unusual Ventures. The company focuses on API security and observability, with a flagship platform securing thousands of API endpoints and billions of API calls monthly. The investment will support global sales, marketing, and channel partner programs.
From the meeting notes, it’s clear that Traceable AI, a San Francisco startup, has secured a strategic investment of $30 million from a group of investors including Citi Ventures, IVP, Geodesic Capital, Sorenson Capital, and Unusual Ventures. This investment brings their total funding to over $110 million since their launch in 2018. The company’s flagship API security platform is securing thousands of API endpoints and billions of API calls per month. The new capital will be allocated towards global sales, marketing, and channel partner programs. Traceable AI’s technology aims to reduce attack surfaces in the cloud, particularly at the API level. The company was founded by Jyoti Bansal, CEO, and Sanjay Nagaraj, CTO, with Bansal having a successful track record in founding companies. Traceable AI competes with other startups like Salt Security, Noname Security, Corsha, Cequence, and 42Crunch in the API security category. The company is clearly well-positioned in the competitive API security and observability space and is backed by key investors in the enterprise data security space.