Fulton-based Sonatype secures $80M growth round - Technical.ly Baltimore

Business

Sep. 7, 2018 5:35 pm

Fulton-based Sonatype secures $80M growth round

San Francisco–based TPG led the investment round. The company is looking to grow its management and security platform for open source development.

Sonatype CEO Wayne Jackson speaks at RSAC.

(Photo courtesy Sonatype/YouTube)

Sonatype, a Fulton, Md.–based company that makes a platform to manage and secure open source software development, closed on $80M in growth funding, the company announced on Friday.

The round was led by San Francisco–based private equity firm TPG, which took a minority investment. Previous investors Accel, Goldman Sachs Group and Hummer Winblad.

The company is looking to grow development and sales of its Nexus platform, which helps corporate and government clients automate the process of finding and managing open source software components. The platform monitors the components for security risks and other potential issues. It’s built on the principle of “DevSecOps,” which brings security to the process of rapidly developing software.

“Open source innovation has never been more vibrant but, as with any software, there is also potential downside,” Sonatype CEO Wayne Jackson said in a statement. “At Sonatype, we’re enabling organizations to confidently embrace open source so that they can both accelerate innovation and also mitigate risk.”

Founded in 2008, Jackson joined the company as CEO after leading Columbia cybersecurity company Sourcefire. The company said it has 1,000 customers, and grew sales 80 percent year-over-year in the first half of 2018.

Sonatype last made a funding splash with a $30 million round in 2016, led by Goldman Sachs. Per data from Crunchbase, the $80 million total is larger than all of its other rounds combined.

Advertisement

The company was recently featured on Technical.ly’s realLIST 2018 featuring Howard County companies.

-30-
JOIN THE COMMUNITY, BECOME A MEMBER
Already a member? Sign in here

Advertisement

Maryland Tech Council names Marty Rosendale as new CEO

Peekaboo: Tenable spotlights vulnerability that could allow manipulation of surveillance footage

Maryland just opened up a tax credit for cybersecurity investors

SPONSORED

Baltimore

Win up to $360,000 for your startup at the WeWork Creator Awards

Baltimore

FX Well

B2B Business Development Manager

Apply Now
Baltimore, MD

SmartLogic

Content and Digital Marketing Manager

Apply Now
Baltimore, MD

Emerging Technology Centers

Assistant Director

Apply Now

Power Moves: Vernā Myers joins Netflix as Vice President of Inclusion Strategy

We’re exploring Maryland cybersecurity in October 2018. Here’s how to submit story ideas

emocha awarded $1M grant to take a closer look at its technology as it grows

SPONSORED

Baltimore

How Think|Stack and Year Up are cultivating local tech talent

Baltimore

FX Well

Mobile Software Developer

Apply Now
Baltimore

Terbium Labs

DevOps Engineer

Apply Now
Baltimore

Terbium Labs

Account Executive

Apply Now

Sign-up for daily news updates from Technical.ly

Do NOT follow this link or you will be banned from the site!