A Howard County software firm closed on a $30 million investment round led by Goldman Sachs’ Principal Strategic Investments Group last week.
The round for Sonatype, which is based in Fulton, included a mix of debt and equity financing. All of the company’s previous investors, including NEA and Accel Partners, were also in on the deal.
Run by former Sourcefire CEO Wayne Rogers, the company makes tech that helps devs identify the best components to build software, as well as potential holes and security vulnerabilities in open source code. The company applies supply chain management to software, much in the same way an automaker looks to make an assembly line more efficient. The company also owns the Central Repository, the default component repository for the open source Apache Maven.
— Sonatype (@sonatype) February 10, 2016
The company’s products are used by a host of big companies, like Booz Allen Hamilton, MasterCard, Cigna, Fannie Mae, Fidelity, Nestle and Raytheon.
“Today, open source components underpin a vast majority of our most mission-critical applications at the firm,” Don Duet, co-head of technology at Goldman Sachs, said in a statement. “As we work to build, maintain and update these applications, we must also ensure that we are using the highest quality open source components at every stage of the development cycle.”
The company will use the money for product development, sales, marketing and international growth.
David Hall of Revolution looks beyond New York and Silicon Valley
Columbia-based Unleashed Technologies acquired by Linc Partners
A video shows Australian firefighters driving through bushfires. They’re using tech made by Baltimore’s Adashi Systems
How this entrepreneurial-minded lawyer is helping set founders up for long-term growth
How independence fuels confidence and professional development at SmartLogic
Investment gives Vista Equity Partners majority stake in Maryland’s Sonatype
Camden Partners leads $6M funding round for Techtonic
Technology is ever evolving — shouldn’t business education be, too?
Sign-up for daily news updates from Technical.ly Baltimore