Traceable AI Raises $60 Million To Bring AI to API Security
Traceable AI announced their $60 million raise today, thanks to Institutional Venture Partners and additional contributors, to expand their machine learning powered API security service.
Created on May 3|Last edited on May 3
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APIs are fundamental to software, and yet they are the most dangerous entry point for hackers with malicious intent. Just a single bug or error in an API entry point, and you could be wide open to getting your company's data stolen or services taken offline.
Traceable AI offers a machine learning approach for securing APIs. By letting their API security model train on your API, it can learn a baseline for how it should normally function, then any changes committed to it that cause the API to work in weird and unexpected ways are flagged by the model. Like most machine learning applications, the more it trains and evolves on your API, the more accurate and reliable it becomes.
Who's funding Traceable AI and where's the money going?
Traceable AI has announced a Series B funding round landing at a total of $60 Million. This funding effort was led by Institutional Venture Partners with additional participation from Tiger Global Management, Unusual Ventures, and BIG Labs.
Traceable AI plans to use the collected $60 million to continue investing in their product development and research, and expand sales across the globe with increases to it's sales and marketing teams.
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