Total amount raised
$110 Millions
Latest funding date
05/01/2024
Location
Traceable has secured $30 million in a strategic investment round, achieving a 300% revenue growth. The company has attracted investments from notable firms such as Unusual Ventures and IVP.
Keep reading to explore the intricacies of Traceable's fundraising journey and the investors backing this innovative platform.
What Is Traceable?
Traceable, founded in 2018 by Jyoti Bansal and Sanjay Nagaraj, is based in San Francisco, California. The company specializes in API security, offering solutions like API discovery, threat detection, and attack protection. With a team of 101-250 employees, Traceable aims to mitigate risks and optimize the value derived from APIs for its customers.
How Much Funding Has Traceable Raised?
- Series A
- Amount Raised: $20M
- Date: July 2020
- Lead Investors: Unusual Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and enhance their API security solutions, enabling businesses to protect their API endpoints effectively.
- Series B
- Amount Raised: $60M
- Date: May 2022
- Lead Investors: IVP
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations, expand market reach, and further innovate their API security platform.
- Venture Round
- Amount Raised: $30M
- Date: May 2024
- Lead Investors: IVP
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To propel the next growth phase, enhance product innovation, support security research initiatives, and scale sales, marketing, and channel partner programs globally.
Total Amount Raised: $110M. Current Valuation: Not publicly disclosed.
Key Investors
- IVP
- Details: IVP is a venture capital firm that invests in later-stage companies. They have a history of backing successful technology companies.
- Investment Focus Areas: Technology, media, internet, enterprise IT, mobile.
- Notable Investments: Twitter, Slack, Snap.
- Unusual Ventures
- Details: Unusual Ventures is an early-stage venture capital firm. They focus on helping startups grow and succeed.
- Investment Focus Areas: SaaS, fintech, cybersecurity.
- Notable Investments: Carta, Robinhood, AppDynamics.
- Citi Ventures
- Details: Citi Ventures is the venture capital arm of Citigroup. They focus on strategic investments in innovative companies.
- Investment Focus Areas: Financial technology, enterprise technology, consumer technology.
- Notable Investments: Betterment, Plaid, Square.
- Geodesic Capital
- Details: Geodesic Capital is a venture capital firm that invests in growth-stage technology companies. They focus on companies expanding into Asia.
- Investment Focus Areas: Growth-stage technology companies.
- Notable Investments: Airbnb, Square, Uber.
- Sorenson Capital
- Details: Sorenson Capital is a private equity firm that invests in high-growth technology companies. They provide growth capital to middle-market companies.
- Investment Focus Areas: Technology, healthcare, high-growth sectors.
- Notable Investments: Health Catalyst, Pluralsight, InMoment.
What's Next for Traceable?
Traceable is poised to capitalize on the explosive growth of APIs, with opportunities to enhance product innovation and bolster security research. The company’s impressive 300% year-over-year growth and ability to secure thousands of API endpoints and over 500 billion API calls per month highlight the vast market potential.
Future fundraising rounds seem likely as Traceable continues to expand and innovate, driven by the increasing demand for API security solutions across various industries. The strategic investment of $30 million will enable the company to scale its sales, marketing, and channel partner programs globally.
However, Traceable faces challenges such as maintaining rapid growth, continuously innovating to stay ahead of emerging threats, and addressing the diverse security needs of heavily regulated industries. Balancing these demands will be crucial for sustaining its leadership in the competitive API security market.
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