WhiteSource Raises $35M For Open Source Security Management

Israeli open source security management company WhiteSource announced this week that it raised $35 million in a funding round led by Susquehanna Growth Equity, with participation from existing investors 83North and M12 – Microsoft Ventures. This Series C round adds to the $11 million raised by WhiteSource since it was founded in 2011.

WhiteSource says it plans to use the funds to expand in the enterprise market and launch operations in London and San Francisco, in addition to its current offices in New York, Boston, and Tel Aviv. Some of WhiteSource’s leading customers, among over 500, include Microsoft, IBM, Comcast, and KPMG.

The company says it seeks to “empower businesses to develop better software by harnessing the power of open source.”

“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, in a statement.

“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,” he adds.

“WhiteSource has established the standard for open source security solutions with its strong leadership and breakthrough innovation,” said Martin Angert, Director at Susquehanna Growth Equity. “We are excited for join WhiteSource on their journey to help businesses develop better software, faster.”