Latest News | Traceable AI Raises USD 60 Million from Institutional Venture Partners, Others

New Delhi, May 3 (PTI) IT security startup Traceable AI on Tuesday said it raised USD 60 million, about Rs 460 crore, in a funding round led by Institutional Venture Partners.

This new funding values Traceable AI at more than USD 450 million, the company said in a statement.

Also Read | Moto G82 Renders & Specifications Leaked Online: Report.

Tiger Global Management and existing investors Unusual Ventures and BIG Labs also participated in the latest funding round.

Traceable AI, which has employee base split between India and US, plans to use this round of funding to accelerate its next phase of growth by further investing in its product development and research efforts, expanding its sales and marketing teams, and expanding global sales.

Also Read | COVID-19 in Maharashtra: RT-PCR Test Made Mandatory for Patients Before Surgeries in Aurangabad.

Started two years ago by AppDynamics and Harness founder Jyoti Bansal along with former AppDynamics VP of Engineering Sanjay Nagaraj, Traceable AI had raised USD 20 million in series A round in July 2020.

"Traceable offers a fundamentally differentiated solution that provides coverage across the full DevSecOps (Development Security and Operations) software lifecycle — from API development and testing to runtime protection.

"The company is led by Jyoti Bansal and Sanjay Nagaraj, proven entrepreneurs whom we have been fortunate to work with before. They listen to customer needs and know how to deliver software at scale," IVP general partner Steve Harrick was quoted as having said in a statement.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)

DISCLAIMER: This article is strictly for informational and educational purposes to raise awareness about the said topic. LatestLY DO NOT host, distribute, or provide links to sexually explicit content, leaked videos, or pirated material. Any search terms or keywords mentioned are solely for the purpose of explaining the viral trend and its associated dangers. We strongly condemn the circulation of non-consensual intimate imagery (NCII) and advise all readers to refrain from searching for or sharing such content, as doing so may lead to severe legal consequences.