Traceable Co-founder Reveals Key Drivers Behind the Company’s Rapid Growth

In a recent interview with the NYSE at the RSA Conference 2024, Traceable co-founder and CTO Sanjay Nagaraj provided a deep dive into the factors fueling the company’s remarkable success since its launch in 2018.

Nagaraj began by highlighting Traceable’s impressive funding achievements, sharing that the company has now raised a total of $110 million, including the recent $30 million strategic funding round. However, he was quick to emphasize that the surge in demand for Traceable’s solutions is driven by much more than just financial backing.

“One is the market – the market is huge. Every business is becoming an API-driven business,” Nagaraj explained. This massive shift towards API-centric architectures across industries has been a major tailwind for Traceable, as the need for robust API security has skyrocketed.

But Nagaraj also credited Traceable’s strong leadership team and fiscal responsibility as crucial elements behind the company’s momentum. “The second reason is the team behind the overall company, which of course includes me and Jyoti Bansal as part of the company, but the broader executive team and the entire team behind building the product is something that they’re very, very excited about because we’ve done that in the past and we continue to do that,” he said.

Nagaraj pointed to the company’s prudent financial management as another key factor. “The third part of it is our good market motion, which also includes how fiscally responsible we are in terms of the money that we spend,” he noted.

At the heart of Traceable’s success, however, is the company’s innovative, AI-powered API security platform. This solution helps customers discover, protect, and test their APIs in an automated, scalable manner – a crucial capability as security teams continue to be resource-constrained.

“The belief was that there has to be a combination of a policy-driven engine, but a contextual policy-driven engine which can use AI to build some of that context, but allow for the users to apply the actions that they want based on the context that we have,” Nagaraj explained.

This unique blend of policy-based controls and AI-powered contextual awareness has enabled Traceable to deliver tangible value to its customers. “We have developed as part of the API security and the OmniTrace engine that we have, and that is what is fueling all of the deployments from our customers’ perspective,” Nagaraj said.

But the most exciting news from the interview came when Nagaraj announced that Traceable is now extending its platform to protect customers’ generative AI applications as well.

“The customers are asking us now to protect their GenAI applications as well,” Nagaraj shared. “So we’re extending the platform now to help them identify the shadow AI applications they have in their environment and also protect them from attacks against those APIs, including prompt injection and other types of attacks.”

This latest expansion of Traceable’s platform underscores the company’s commitment to staying ahead of the curve and addressing the evolving security needs of its customers. As the API economy and generative AI continue to transform the digital landscape, Traceable is positioning itself as a trusted partner in securing the API-driven future.

Traceable’s Generative AI API security capabilities were officially announced at RSA Conference 2024.

With its impressive funding, experienced leadership team, innovative technology, and now extended platform capabilities, Traceable is poised to continue its remarkable growth trajectory in the years to come. As more and more businesses rely on APIs and generative AI to power their digital ecosystems, the demand for Traceable’s solutions is only expected to accelerate.

About Traceable

Traceable is the industry’s leading API Security company helping organizations achieve API protection in a cloud-first, API-driven world. Traceable is the only contextually-informed solution that powers complete API security – API discovery and posture management, API security testing, attack detection and threat hunting, and attack protection anywhere your APIs live. Traceable enables organizations to minimize risk and maximize the value that APIs bring to their customers. To learn more about how API security can help your business, visit https://www.traceable.ai/.