Traceable AI, the API security company, has announced a $30 million strategic investment from a group of investors, including Citi Ventures – the venture arm of Citigroup, lead investor IVP, Geodesic Capital, Sorenson Capital, and Unusual Ventures.

As the company puts it, this strategic investment highlights the growing recognition of API security as a critical challenge for enterprises across industries, particularly within the heavily-regulated financial sector. Traceable’s impressive 300% year-over-year growth further demonstrates its ability to deliver comprehensive API security solutions and excel in the enterprise market.

This investment will propel Traceable’s next growth phase, empowering the company to supercharge product innovation, bolster security research initiatives, and strategically scale its sales, marketing, and channel partner programs worldwide.

“At Traceable, we’re driven by the mission to make every API a source of secure innovation and remove any potential risks,” said Jyoti Bansal, CEO and co-founder of Traceable. “The recent attention Traceable has received from enterprise customers, security practitioners, and investors alike underscores that organizations understand the strategic importance of API security. This investment accelerates our ability to help businesses innovate fearlessly with APIs, knowing they have unmatched protection. It strengthens our commitment to serve large enterprise customers and pioneer new solutions in API security.”