Silicon Valley CISO Investments (SVCI) Backs Traceable to Transform Web App Security Market
SAN FRANCISCO, Feb. 11, 2021 /PRNewswire/ -- Traceable, the world's first end-to-end application security monitoring platform, today announced a strategic partnership with Silicon Valley CISO Investments (SVCI), an angel syndicate of 55+ practicing CISOs that back innovative cybersecurity startups. Investors will offer Traceable capital and invaluable strategic counsel.
Founded by serial entrepreneur Jyoti Bansal and engineering executive Sanjay Nagaraj, Traceable launched from stealth in the third quarter of 2020 and has experienced significant customer momentum as enterprises seek new ways to secure their APIs and cloud-native applications, preventing inadvertent data leaks and next-generation cyberattacks. As Traceable scales, SVCI's unique approach to investing in startups and on-the-ground support will be instrumental in the company's continued growth.
SVCI hand picks standout organizations to support and work closely with on everything from operations and product roadmaps to pricing and marketing initiatives. Unlike traditional VC firms, SVCI doesn't take board seats and takes pride in its hands-on approach to growing early-stage companies.
"CISOs are the true experts in our industry and their investment in Traceable is incredibly validating," said Jyoti Bansal, co-founder and CEO of Traceable. "As cloud-native architecture adoption soars, protecting modern distributed apps from increasingly sophisticated security attacks has become an immediate challenge. The SVCI CISO's expertise and deep understanding of customer pain points is invaluable as we work to ensure all businesses have the tools at their disposal to properly protect their applications. We're proud to partner with SVCI as they redefine what it means to be an investor."
Traceable's software helps protect APIs by using distributed tracing data and machine learning algorithms that can analyze application activity and alert when anomalous behavior is detected. According to Gartner, "IT organizations struggle to evolve their processes for developing, delivering and managing APIs for integration and digital business transformation." Traceable is helping businesses overcome this blind spot. Businesses rely on Traceable's rich forensic data and insights to identify attack attempts and easily perform root cause analysis.
"SVCI's mission is to empower and champion startups tackling the most complex challenges facing the cybersecurity market," said Jonathan Jaffe, SVCI investor and CISO for Lemonade. "Traceable is pioneering how businesses can overcome API vulnerabilities and protect against a new class of attacks that can withstand Web Application Firewalls and Runtime Application Self-Protection measures. Its first-to-market technology and seasoned leadership sets it apart and makes the company a natural fit for SVCI's portfolio."
To learn more about SVCI and Traceable visit Traceable's latest post detailing a discussion with Lemonade CISO and SVCI investor, Jonathan Jaffe.
About Traceable
Modern applications are extremely hard to secure and protect. Microservices, APIs, and cloud services are complex and continuously change. Traceable enables security to keep up with engineering and the continuous pace of change and protect modern applications from modern threats. Traditional security solutions like Web Application Firewalls are too static and too slow to react and respond with new rules to constantly changing applications and changing threats. Traceable applies the power of machine learning and distributed tracing to understand the DNA of the application, how it is changing, and where there are anomalies in order to detect and block threats, making businesses more secure and resilient. Learn more at https://traceable.ai.
About Silicon Valley CISO Investments
Silicon Valley CISO Investments ("SVCI") is a group of Chief Information Security Officers ("CISO") that operate as an angel investor syndicate. Founded in late 2019 and with three investments to date, SVCI is already successfully pursuing its mission of fueling the next generation of cybersecurity innovation. The group identifies promising startups, invests in them and leverages its members' unmatched industry expertise to help the companies thrive. The group was co-founded by Oren Yunger, investor with GGV Capital, and former CISO along with Al Ghous from ServiceMax, Clint Maples from Robert Half, David Tsao from Marqeta, Harshil Parikh from Medallia, Joel Fulton from Splunk, Jonathan Jaffe from People.ai, Ody Lupescu from Ethos Life, and Ralph Pyne from NextRoll. Learn more at https://svci.io.
SOURCE Traceable
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