Traceable AI (see Pulse 2.0 profile here), a leading API security company, announced a $30 million strategic investment from a group of investors, including Citi Ventures (the venture arm of Citigroup), lead investor IVP, Geodesic Capital, Sorenson Capital, and Unusual Ventures.
This strategic funding highlights the growing recognition of API security as a critical challenge for enterprises across industries, especially within the regulated financial sector. And Traceable’s impressive 300% year-over-year growth further demonstrates its ability to deliver comprehensive API security solutions and excel in the enterprise market.
This funding will propel Traceable’s next growth phase, empowering the company to drive product innovation, support security research initiatives, and strategically scale its sales, marketing, and channel partner programs worldwide.
KEY QUOTES:
“Traceable 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.”
- Matt Carbonara, Managing Director at Citi Ventures
“At Traceable, 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.”
- Jyoti Bansal, CEO and co-founder of Traceable
“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.”
- Steve Harrick, general partner at IVP
