Application Programming Interfaces (APIs) are at the forefront of software communication, working as an invisible backbone that connect millions of applications online. While this piece of enabling technology is critical to millions of businesses, it’s also become a growing target for hackers. APIs, which often transmit sensitive data and valuable proprietary information, are especially vulnerable to cybersecurity attacks. Few existing cybersecurity solutions are sophisticated enough to protect companies from API attacks and most companies are unaware when their security has been compromised.
Enter Traceable AI. Traceable tracks all APIs and any data associated with the APIs for an entire organization, quickly recognizing when an API’s security has been breached. Unlike other cybersecurity products focused on APIs, Traceable analyzes user behavior and business logic in real-time to ensure that sensitive information remains uncompromised.
In the 3 short years since it was founded, Traceable AI is quickly differentiating itself in the cybersecurity market as a surefire defense against API hacks.
For these reasons, IVP is thrilled to announce that we’re leading Traceable AI’s Series B. We’ve long been fans of Traceable’s CEO, Jyoti Bansal, who IVP previously backed when he led enterprise cloud companies AppDynamics and Harness.
Our team at IVP has recognized Jyoti as a first-in-class entrepreneur with a distinct talent for building essential cloud infrastructure products. We first became acquainted with Jyoti’s visionary leadership when he was the CEO of AppDynamics, a company where IVP led the Series D in 2017. In less than ten years after founding the company, Jyoti sold AppDynamics to Cisco for $3.7 billion.
While at AppDynamics, Jyoti identified other customer pain points he hoped to solve. His next company, Harness, for which IVP led the Series B in 2019, worked to mitigate crucial complications in software delivery. Now, with Traceable AI, Jyoti has turned his attention to creating software that protects the critical API software which is crucial to so many businesses.
We could not be more excited to back Jyoti for the third time.
Alongside Jyoti is his co-founder Sanjay Nagaraj, an early AppDynamics employee who’s worked with Jyoti for nearly a decade. Their shared experience at AppDynamics has provided them with the ideal background to lead a team focused on applying observability to API security. In addition, the founders have surrounded themselves with talented executives from Gitlab and AppDynamics to build the ideal team to bring their product to market.
We are thoroughly impressed by Traceable’s early traction and the team’s ability to build an exceptional platform. While cybersecurity is a relentless battle, we believe the Traceable team is best positioned to adapt and pioneer new solutions to safeguard enterprise data.