(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.
— Sonatype (@sonatype) September 7, 2018
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.
The company was recently featured on Technical.ly’s realLIST 2018 featuring Howard County companies.-30-
MindX, a startup developing brain-controlled smartglasses, names Julia Brown as CEO
Millennial Media alum Matt Gillis joins Clean Creative as CEO
JPMorgan Chase is expanding its Entrepreneurs of Color Fund to offer loans in Baltimore
Arrive ready to grow at 14 West
Maryland Cyber Skills Alliance to launch training program in March
On the Market: Find a tech job to love in Baltimore
VitusVet, eying growth, hires OrderUp cofounder as COO
The Washington Post is reprogramming the way news breaks
Sign-up for daily news updates from Technical.ly Baltimore