Funding round pulls in $60M for Traceable AI

Cybersecurity startup Traceable AI has secured a $60 million investment from a Series B funding round, bringing its valuation to over $450 million, TechCrunch reports. The raised funds will be allocated toward strengthening product development, customer acquisition, and talent recruitment efforts amid increasing cybersecurity threats aimed at APIs, according to Traceable AI co-founder and CEO Jyoti Bansal. Through artificial intelligence, Traceable seeks to discover normal app behaviors and identify atypical activity. Traceable also leveraged "context-based behavioral analytics" and "distributed tracing" to facilitate real-time API monitoring. "APIs often expose business logic that threat actors use to infiltrate applications and private data. Every line of code needs to be observed in order to properly secure modern cloud-native applications from next-generation attacks. Automated and unsupervised machine learning allows Traceable to go deeper and complete the API security requirement better than anyone. As its name suggests, Traceable traces end-to-end application activity from the user and session all the way through the application code," Bansal added.