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Citigroup’s VC arm invests in API security startup Traceable
Traceable, an API security startup, has raised a new tranche of cash from investors including Citigroup's VC arm.
With Traceable, Bansal — who previously co-launched app performance management startup AppDynamics, acquired by Cisco in 2017 — sought to build a platform to protect customers’ APIs from cyberattacks. API attacks affected nearly one quarter of organizations every week in the first month of 2024, a 20% increase from the same period a year ago, according to cybersecurity firm Check Point. “Traceable is building a long-term sustainable company, which from a financial perspective means that we have a very healthy margin profile that continues to improve as our revenue grows,” he said.
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