Traceable AI, a San Francisco, CA-based API security & observability company, raised $60M in series B funding.
The round, which values it at more than $450m, was led by Institutional Venture Partners (IVP), with participation from Tiger Global Management, Unusual Ventures and BIG Labs.
The company intends use the funds to accelerate its next stage in growth by investing further in product development, research, and expanding its sales & marketing teams.
Started two years ago by AppDynamics and Harness founder Jyoti Bansal and former AppDynamics VP of Engineering Sanjay Nagaraj Traceable provides an API security platform that discovers, manages and secures APIs for enterprises. It protects APIs from the inside by understanding the unique business logic, user attribution, and context of each API – from development through production via distributed tracing technology and advanced context-based behavioral analytics.
A wide range of companies, including Informatica, Bullish, Digital Ocean, Zolve, Houwzer and many large finance firms utilize the company’s technology to secure their cloud-native applications.