Fundraising Fox

Trace

YC S25

London, GB · Founded 2025 · 3 employees · 17 known investors

Trace provides an AI orchestration platform that models task flows between departments and aligns AI agents with human judgment to automate operational workflows at scale. The product is designed for enterprise teams seeking to automate complex multi-department processes while maintaining visibility and control.

Also known as Trace AI · trace.so

Founders & leadership· Y Combinator alumni (S25)

Trace was founded in 2025 by Tim Cherkasov and Artur Romanov.

TCTim Cherkasov
Tim Cherkasovin𝕏Co-Founder & CEOHe previously worked as a product manager at Copper, a digital asset custodian where he developed institutional solutions, and has worked in fintech roles including as a data scientist at hedge funds and startups. He has founded multiple companies in retail technology, travel, and web3 since his teens.
ARArtur Romanov
Artur Romanovin𝕏Co-Founder & CTOHe previously worked as a senior engineer at Deliveroo, where he built machine learning infrastructure for grocery data enrichment. He has prior experience leading backend engineering in logistics and finance, as well as implementing workflow automation systems.

Investors · 17

Also in the syndicate · 3

Benjamin BryantFormosa CapitalKevin Moore

Funding

SEC filings, press & company announcements

Source: company announcements and press reports — follow each round's link for the claim.

Company profile

researched Aug 2026

Trace (trace.so) is a workflow orchestration platform that gives AI agents shared context across a company's systems and lets teams build visual processes that combine AI and human steps. The product automatically identifies which tasks can be automated by AI and which require human input, with the stated aim of letting non-technical teams build and run workflows without engineering involvement. Its marketed positioning is an "AI orchestration layer for modern teams" — an operational layer that models how tasks flow between departments and aligns AI agents with human judgment.

Central to the product is what the company calls a context engine: by integrating with internal systems, it analyses internal wiki content, activity logs and people data, then builds a unified index (described as a context/knowledge graph) that supplies context for each new workflow and informs routing between people and agents. The platform respects existing permissions, learns from past and ongoing work, maintains a full audit trail, and allows users to review, edit or reroute tasks. Site material illustrates governance features such as approval gates (for example routing contracts above a value threshold to finance), confidence thresholds that flag low-confidence agent output for human review, and SLA monitoring across runs. The company describes a longer-term ambition of building a "CompanyOS" — a cognitive layer that ingests internal signals and drives action across teams.

The product was presented as being in beta on the company website, with a free demo available at demo.trace.so and a launch post published through Y Combinator.

Founding story

Trace was founded in 2025 by Tim Cherkasov (CEO) and Artur Romanov (CTO), who met at university and had worked together on projects, papers and startups over the preceding decade. Cherkasov was previously a product manager at digital asset custodian Copper, where he delivered an institutional offering for State Street, with earlier fintech experience as a data scientist across hedge funds and scaleups, and had been building startups since age 17 in retail tech, travel and web3. Romanov was previously a senior engineer at Deliveroo, where he built a grocery data-enrichment ML pipeline covering millions of items and thousands of retailers, and is a multi-time founder who led backends in logistics and finance and deployed workflow automation across engineering and operations.

Business model

B2B SaaS: an enterprise software platform sold to companies to orchestrate workflows across AI agents and employees. Y Combinator categorises the company under SaaS, B2B, productivity, enterprise software and AI. No pricing or contract terms are disclosed in the available sources.

Not disclosed in the available sources; the company offers a free demo environment (demo.trace.so) and asks prospective users to get in touch.

Traction

The Y Combinator launch post states that more than 30 companies use Trace to automate repetitive work. Team size is listed as 3. Product is described as in beta. Metrics displayed on the website (task counts, entities mapped, departments connected) appear in illustrative product mockups rather than as company disclosures.

Latest developments

A $3 million seed round was reported in February 2026, led by Y Combinator with participation from Zeno Ventures, Transpose Platform Management, Goodwater Capital, Formosa Capital, WeFunder and angel investors Benjamin Bryant and Kevin Moore. The company said proceeds would go toward enhancing the AI workflow orchestration platform, deeper context-graph engineering, expanding product and engineering teams, and scaling adoption of AI agents in enterprise workflows.

Full profile — market position, technology, go-to-market, geography, history, risks & controversies

Market position

Positioned in the enterprise AI agent / workflow orchestration category, emphasising cross-department context and human-in-the-loop governance rather than standalone AI tools. Sources describe the problem framing as agent adoption in the enterprise; no market share or comparative ranking data is available.

The company frames its distinguishing element as a company-wide context engine that models how tasks flow between departments and builds persistent operational understanding, combined with automatic identification of which tasks are suitable for AI versus humans, permission-awareness, audit trails and no-code workflow building for non-technical teams.

Technology

A context engine that integrates with workplace tools — Slack, Jira, Notion, HubSpot, Google Drive, email and Airtable are named across sources — resolves entities from them and builds a unified company index or context graph. On top of this, AI agents execute delegated subtasks (for example lead qualification, email drafting and contract term extraction) while approval gates, confidence thresholds and audit trails keep humans in the loop.

Go-to-market

Direct outreach and founder-led sales: the website's primary call to action is "Get In Touch," and the Y Combinator launch post invites operations, product and support practitioners to email the founders or book a call, alongside a free self-serve demo. Y Combinator affiliation (Summer 2025 batch) and its launch platform serve as distribution and credibility channels.

Enterprise and scaling company teams with repetitive, cross-department manual work — the founders specifically ask to speak with people in operations, product and support roles. Use cases shown include client onboarding, sales pipeline management and finance approvals.

Geography

Headquartered in London, United Kingdom according to its Y Combinator profile; one funding report instead describes the company as San Francisco–based. No other office locations are disclosed.

History

Founded in 2025 and based in London, Trace participated in Y Combinator's Summer 2025 batch, with Ankit Gupta as primary partner, and published a launch post for its task-routing product. In February 2026 the company was reported to have raised a $3 million seed round to address enterprise AI agent adoption.

Risks & controversies

No controversies are reported in the available sources. Notable data limitations: sources disagree on headquarters (London per Y Combinator vs. San Francisco in one funding report), the product is still labelled beta, the team is small (3 people), and the usage figures shown on the website are illustrative product mockups. The name "Trace" is shared with unrelated companies, including Trace Finance (cross-border payments) and a climate disclosure platform of the same name.

Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.

Key figures

latest reported
Companies using TraceJan 202530 companies
HeadcountAug 20265
Team sizeJan 20263 people

Company-reported or press-reported figures, each dated to when it was claimed — not independently audited.

Competitors · 6

by search overlap
Tracer11 shared keywordsTracer is an AI-based brand protection platform that monitors digital channels, removes infringing content, and maps brand abuse networks using patented graph technology and machine vision. It serves brands seeking to detect trademark, copyright, patent, and logo misuse online and generate business intelligence from enforcement data.
Traversal6 shared keywordsTraversal builds an agentic AI system that uses machine learning to autonomously analyze telemetry data and troubleshoot production incidents for enterprise software teams. The platform leverages causal machine learning and reinforcement learning to enable self-healing software and improve site reliability.
Our Trace6 shared keywordsTrace is a climate disclosure platform that helps businesses measure, report, and reduce emissions and produce audit-ready disclosures under ASRS S2, AASB S1, and ISSB frameworks. It serves finance teams and auditors, with a focus on Australian entities subject to mandatory climate disclosure.
Traceable6 shared keywordsTraceable offers a context-aware application and API security platform that automatically discovers and inventories internal, public, shadow, and third-party APIs across on-prem and cloud environments. It provides security posture management, threat detection and blocking, and API security testing for SOC teams, incident responders, and security teams across the software development lifecycle.
Traces6 shared keywordsTraces provides AI-powered video analytics software that extracts actionable data from CCTV cameras for threat detection, loss prevention, and retail analytics. The platform uses generative AI to enable text-prompt-based video search and real-time investigative capabilities for security and operational decision-making.
Netezza6 shared keywordsIBM is a global technology company whose business spans enterprise software (including Red Hat, HashiCorp, and Confluent), IT infrastructure such as mainframes, servers, and storage, and IT consulting services. The company is also investing heavily in quantum computing and AI-based enterprise offerings, including its Lightwell open-source software security clearinghouse and the Anderon quantum wafer foundry.

Companies competing with Trace for the same Google search keywords, organic and paid, via search-intersection analysis.

Timeline · 3

launches, deals, and filings
Feb 2026
Trace raises $3M seed round

Trace raised $3 million in seed funding led by Y Combinator, with participation from Zeno Ventures, Transpose Platform Management, Goodwater Capital, Formosa Capital, WeFunder and angels Benjamin Bryant and Kevin Moore; funds earmarked for platform development, context-graph engineering, and product and engineering hiring. TechCrunch coverage dated Feb 25-26, 2026 framed the raise as addressing the enterprise AI agent adoption problem.

$3M source ↗

Jan 2025
Participation in Y Combinator Summer 2025 batch

Trace is listed as an active Y Combinator Summer 2025 batch company, founded 2025, located in London, United Kingdom, with primary partner Ankit Gupta.

source ↗

Jan 2025
Trace launch post: route repetitive tasks to AI agents

Co-founders Tim Cherkasov and Artur Romanov published a Y Combinator launch post for Trace, a workflow automation platform that connects to tools such as Slack, Jira and Notion, breaks down existing workflows, identifies automation opportunities and embeds AI agents; the post stated more than 30 companies were already using the product and pointed to a free demo at demo.trace.so.

source ↗

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

Legal entities · 1

corporate structure
TraceNo. 04089880 · inc. Oct 2000 · active

Companies House · registry record

View on Companies House ↗
Registered name
TRACE LIMITED
Company number
04089880
Status
Active
Company type
Private limited company
Incorporated
13 Oct 2000
Registered office
28 Hillbury Drive, Willenhall, WV12 5UT
Nature of business (SIC)
68209 — Other letting and operating of own or leased real estate
Accounts
last made up to 31 Oct 2025 · next due 31 Jul 2027
Confirmation statement
last made up to 17 Oct 2025 · next due 31 Oct 2026

Current officers · 4

  • Linda Kallow secretary, appointed 13 Oct 2000
  • Michael Francis Kallow director, appointed 24 Oct 2022
  • Reshurander Kallow director, appointed 13 Oct 2000
  • Kimberley Jane Thompson director, appointed 24 Oct 2022

Source: Companies House public register · retrieved 24 Jul 2026. Contains public sector information licensed under the Open Government Licence v3.0.

In the news

Research sources · 8

primary sources listed

8 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Trace do?
YC-backed London startup building a context-aware orchestration platform that routes workflow tasks between AI agents and people.
Who founded Trace?
Trace was founded by Tim Cherkasov, Artur Romanov in 2025.
Who are Trace's investors?
Trace's investors include Y Combinator, Chainlink, Chainlink labs, Coinbase Ventures, CoinFund, Goodwater Capital, Haun Ventures, HOF Capital and 6 more.
Where is Trace headquartered?
Trace is headquartered in London, GB.