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Traceable AI Secured $60 Million In Series B Funding The fund will be used to accelerate company's growth, expanding the sales and marketing

By Teena Jose

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The API security and observability company, Traceable AI, has raised $60 million in Series B funding round led by Institutional Venture Partners (IVP). The round also witnessed participation from Tiger Global Management, Unusual Ventures and Big Labs. The fund raised will be used to accelerate the company's next phase of growth by investing in its product development and research efforts, expanding the sales and marketing.

"API security has become a major concern for most companies. Traceable AI offers a fundamentally differentiated solution that provides coverage across full Development-Security-Operation software lifecycle," said Steve Harrick, general partner, IVP.

By leveraging the team's expertise in distributed tracing and observability, Traceable AI is the only API security platform that discovers, manages and secures APIs for enterprise-level organizations. A wide range of companies including, Informatica, Bullish, Digital Ocean and many large finance firms utilize Traceable AI's tracing technology to secure their cloud-native applications, claimed the company in a statement.

"Traceable AI applies the power of machine learning and distributed tracing to understand how an application really works in the context of the business and be able to detect block threats to keep customers secure," said Jyoti Bansal, founder, Traceable AI.

Founded in 2018 by Jyoti Bansal, Traceable AI protects APIs from the inside by understanding the unique business logic, user attribution and context of each API. The platform discovers, manages and secures APIs against malicious attacks.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.

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