New York startup Traversal raised $120 million at a $1 billion valuation, less than three years after being founded in 2023. The funds will support its site reliability engineering platform, which combines agentic AI and causal machine learning to diagnose, resolve and prevent outages in enterprise systems. The company reports root-cause accuracy above 90% for high-impact incidents and an average 85% reduction in recovery time. Its annual recurring revenue grew eightfold in six months, while monthly active users increased fourteenfold since January 2026 and more than 71,400 investigations were completed in a single quarter. Customers include DigitalOcean, PepsiCo and several Fortune 100 financial institutions, while American Express invested in the company as part of an operational partnership.
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