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INDUSTRY FIRST

Traceable AI secured $30M in a strategic investment round led by Citi Ventures and IVP to enhance API security solutions.

May 01, 2024•over 1 year ago

Amount Raised

$30 Million

Chennai

Investors

Unusual VenturesSorenson CapitalGeodesic CapitalIvpCiti Ventures

Description

Traceable AI announced a $30 million strategic investment round from investors including Citi Ventures, IVP, Geodesic Capital, Sorenson Capital, and Unusual Ventures, highlighting the recognition of API security as a critical challenge for enterprises.

Company Information

Company

Traceable AI

Location

Chennai, Tamil Nadu, India

About

The application programming interface (API) security and observability company said the new funding round values it at more than $450 million. Traceable AI plans to use the capital infusion to accelerate its next phase of growth by further investing in its product development and research efforts, expanding its sales and marketing teams, and expanding global sales, the company said.

FundzWatch™ Score

74
Medium Activity

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech