Open Source Security Management Firm WhiteSource Raises $35 Million
18.10.2018 securityweek IT
WhiteSource, a company that specializes in open source security management, on Wednesday announced that it raised $35 million in a Series C funding round.
The round was led by Susquehanna Growth Equity, with participation from existing investors 83North and M12 - Microsoft Ventures. The latest funding brings the total raised by the company to date to $46 million.
The company says the money will be used to further increase its reach by opening new sales, marketing and customer support operations in San Francisco and London, along with other locations that will help its global expansion. The firm currently has offices in New York, Boston, and Tel Aviv, Israel.
Founded in 2011, WhiteSource helps organizations use open source software without slowing development or making compromises on security. The company says its Effective Usage Analysis product reduces open source vulnerabilities by 70%.
WhiteSource says its solutions are used by more than 500 organizations of all sizes and from all industries, including nearly a quarter of Fortune 100 companies. Customers include Microsoft, IBM, Comcast and KPMG.
“We are now at a stage where the question is not whether or not to use open source components, but how to put in place the solutions and policies to manage them well,” said Rami Sass, co-founder and CEO of WhiteSource. “Microsoft’s acquisition of GitHub for $7.5B showcases that companies have accepted open source as crucial to the software development process, but incidents such as the Equifax data breach underscore the necessity for all companies to protect their products from attacks that would exploit the open source components they are using.”