Customer-driven approach, product innovation, and strategic partnerships triple growth, driving continued leadership in API security
Traceable AI, the industry's leading API security company, today announced a year of rapid growth, marked by a 300% year-over-year revenue increase. The company also expanded its executive team with experienced industry veterans and introduced cutting-edge product releases.
This impressive growth is a testament to the value Traceable offers organizations navigating the complex risks to APIs. With an unwavering focus on customer success, Traceable's expertise in API discovery, posture management, testing, and attack protection continues to help organizations effectively manage API risk.
Highlights: Traceable's Key Achievements
- Record Revenue Growth: Traceable has achieved an impressive 300% year-over-year revenue growth, a testament to our customer-centric approach, product innovation, and the increasing demand for context-driven API security. This growth is a direct result of our initiatives to enhance our product offerings and expand our global footprint.
- Customer Success and Growth: Traceable has achieved significant customer expansion across diverse sectors and geographies, including leading telecom provider Globe Telecom. Deployments with numerous Fortune 500 organizations underscore the trust placed in our solutions. Our commitment to ensuring customer success is evident we streamline deployment, helping customers go live within 30 days, and our focus on rapid time-to-value means most enterprise customers start seeing benefits within 90 days. This success is further reflected in positive feedback, impactful case studies, and commendations on platforms like Gartner Peer Insights and G2 Crowd.
- Unmatched Product Innovation: Traceable expanded its API Security Platform with groundbreaking capabilities in fraud prevention, partnered with Wiz for integrated cloud and API security, and released the industry's first Zero Trust API Security Reference Architecture, promoting secure API practices and adherence to established security standards. These innovations demonstrate that Traceable delivers API security solutions that meets the real-world security challenges facing organizations today.
- Strategic Leadership Expansion: Traceable welcomed key executives to our leadership team, including the appointment of Brian McDonough as Chief Revenue Officer, alongside Loukas Nikolaou as VP of International Sales, Michael Tarsha and TJ Massie as Regional Vice Presidents of Sales, Tyler Shields as VP of Product Marketing, and Anjum Ahuja as Head of Security Research. These strategic hires are central to our mission, enhancing our ability to innovate, drive revenue, and expand our market presence.
- Strategic Partnerships and Channel Program Expansion: Our channel-first strategy fueled significant market expansion through additional partners, including GuidePoint Security, Defy Security, World Wide Technology, CGI, and many others. These initiatives helped power global availability of our API security solutions. This growing partner network is a testament to our commitment to providing innovative, accessible API security solutions worldwide.
- Industry-First API Security Research: Traceable's State of API Security Report, an industry-first global study, shed light on the true scale of API risks. Key findings, including 61% of organizations anticipating increased API risk within the next two years, and 74% having endured three or more API-related breaches, shocked the industry. These insights help drive more effective security strategies across enterprises, and firmly established Traceable as a thought leader shaping the future of API security.
- Award-Winning API Security Innovation: Traceable's API security platform earned consistent industry recognition throughout 2023. This includes Frost and Sullivan's Best Practices Enabling Technology Leadership Award, the SINET16 Innovator award, multiple Globee awards, and wins from Cybersecurity Excellence, TMCNet, The Devies, and more. In each award, our API Security Platform was honored for its significant impact across the globe. Powered by our unique API Security Data Lake, the platform provides a comprehensive, 360-degree view of API activity, user behavior, data flow, and code execution. This empowers in-depth behavioral analysis, delivers security and insights that surpass the capabilities of traditional security tools (WAFs, API Gateways, WAAPs, etc.) for proactive threat defense.
Jyoti Bansal, CEO and co-founder of Traceable, reflects on the achievements over the past year: "This year's incredible growth proves that when you focus on solving real security problems for organizations, their trust and success follow. At Traceable, we're making a difference in how companies confidently use APIs that's what inspires me every day. This growth is possible because of our customer-centric team, product innovation, and our partners; together, we're leading this change. And it's just the beginning. Our vision is a future where businesses never have to worry about the security of their APIs. Instead, they have the confidence to thrive and innovate. Traceable is making that a reality."
Looking Ahead: Traceable's Future Outlook
Building on this year's incredible momentum, Traceable is driven by a singular focus: delivering cutting-edge solutions that make the complex world of API security manageable for any business. Our roadmap is driven by our unwavering commitment to customer success, fueled by product innovation and strong partnerships. Every innovation, every partnership, and every new capability comes back to that core belief: APIs should be a driving force for innovation, not a source of risk. It's this mission, and our phenomenal team, that powers our leadership and will power the future of API security.
About Traceable
Traceable is the industry's leading API Security company helping organizations achieve API visibility and attack protection in a cloud-first, API-driven world. Traceable is the only intelligent and context-aware 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 their customers. To learn more about how API security can help your business, book a demo with a security expert.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240227911806/en/
Contacts:
Shannon Cieciuch
Touchdown PR
traceable@touchdownpr.com
