Traceable raises $20 million for AI system that shields cloud app APIs from cyberattacks

Traceable, a startup developing an end-to-end cloud app security solution, today emerged from stealth with $20 million in venture equity financing. Newly flush with capital, CEO Jyoti Bansal intends to focus on acquiring customers globally while growing Traceable's team and accelerating R&D. Cloud-native apps are often built with hundreds or even thousands of API microservices (i.e., loosely coupled services), making them difficult to protect at scale. Gartner predicts that by 2022, API abuses will be the most frequent attack vector, which isn't surprising considering API calls represented 83% of web traffic as of 2018. Traceable ostensibly protects these APIs with machine learning algorithms that analyze app activity from the user and the session all the way down to the code.