Traversal, a New York startup building AI agents for site reliability engineering, has raised a $120M Series B at a $1B valuation. Kleiner Perkins, Redpoint Ventures and Khosla Ventures co-led the round, which Traversal announced on November 3.
Sequoia Capital, Battery Ventures and Amex Ventures also participated, with earlier backers Kleiner Perkins and Sequoia increasing their stakes. Traversal has now raised $173M in total, including a $48M round when it emerged from stealth in June 2025 and an Amex Ventures investment in December 2025.
Traversal plans to use the money to hire across research, engineering and go-to-market roles. Its stated goal is "self-driving production," software that detects problems, identifies their causes, takes corrective action, verifies the fix and prevents a repeat.
Key facts
- 01Traversal raised a $120M Series B at a $1B valuation, announced November 3, 2026.
- 02Kleiner Perkins, Redpoint Ventures and Khosla Ventures co-led, with Sequoia, Battery Ventures and Amex Ventures participating.
- 03Total funding is $173M, including a $48M round when the company emerged from stealth in June 2025.
- 04Monthly investigations on the platform grew more than 100-fold in 2026, from 513 to nearly 73,000.
- 05Customers include Nubank, Harvey, DigitalOcean and PepsiCo.
The company was founded by Anish Agarwal, Raaz Dwivedi, Raj Agrawal and Ahmed Lone. Three of the founders came from academic research in causal machine learning and reinforcement learning at MIT, Berkeley, Columbia and Cornell, and Traversal started with incident root-cause analysis.
Its platform rests on two systems introduced in March 2026. The Production World Model turns telemetry, code, deployment history and internal knowledge into a continuously updated representation of a production environment. The Causal Search Engine lets agents test thousands of hypotheses in parallel and trace cause and effect across systems.
On top of those, Traversal Workers are long-running agents that begin investigating when an incident or alert fires. Traversal MCP feeds production intelligence back to coding agents so they can write more resilient code.
Traversal says monthly investigations on the platform grew more than 100-fold this year, from 513 to nearly 73,000, and that roughly two-thirds of usage now extends beyond root-cause analysis into alert triage, release risk, security and production support. The company reported more than 150,000 customer investigations in the most recent quarter and ninefold growth in annual recurring revenue year to date.
Customers include Nubank, Harvey, DigitalOcean and PepsiCo, and the company says it supports more than 4,000 engineers.
Traversal pitches the product at a side effect of AI coding. It cites a BairesDev survey finding that 42% of developers now use AI to write most of their code, up from 12% a year earlier, and that 52% of them spend more time debugging once code reaches production.
Independent benchmarks show how hard the task is. The ORCA-bench paper, from researchers affiliated with Cornell Tech, Traversal and Columbia University, found the best of five general-purpose agents reached 25.3% root-cause accuracy on medium tasks and 10.0% on hard ones, in a controlled testbed that does not measure Traversal's own production performance.
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