WhiteSource Raised $75 Million in a Series D Funding Round
WhiteSource, an open source security management organisation, reported a $75 million Series D funding round on Wednesday.
The business received $35 million in its Series C funding round, which was disclosed in October 2018. Pitango Growth led the latest round, which takes WhiteSource’s total funding to more than $120 million, with participation from M12, Susquehanna Growth Equity, and 83North.
WhiteSource, which was established in 2011, has created a product to assist software development teams in effectively managing the open source components they use.
The product searches open source repositories in real time and compares the collected data to the open source components that the consumer uses. It then informs users about specific component vulnerabilities, bugs, fixes, and new versions.
WhiteSource claims to have over 800 customers worldwide, including almost a quarter of Fortune 100 firms, and has offices in the United States, the United Kingdom, and Israel. Over the last three years, the company claims to have seen a substantial rise in customers and sales.
According to Rami Sass, CEO and co-founder of WhiteSource, “application security needs have gone beyond just identification to include continuous prioritisation and prevention, as shown by recent tech supply chain attacks.” “With this investment, we are one step closer to a future in which the application development cycle is still one step ahead of any security danger, and developers are easily armed with code they can trust.”
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