Traversal raises $120M at a $1B valuation to fix what AI code breaks

Traversal, a New York startup, raised $120M at a $1B valuation to develop AI agents that diagnose and fix software failures faster than human engineers. Its AI analyzes telemetry and code to pinpoint causes and suggest fixes, helping clients like Nubank and American Express reduce downtime. The company reports rapid revenue growth and widespread adoption of its technology for incident management and risk assessment.