Susquehanna Growth Equity (SGE), a subsidiary of technology and trading firm Susquehanna International Group, has led a $35m series C round for US-based cybersecurity technology developer WhiteSource.
The round also featured M12, the corporate venture capital arm of software provider Microsoft, and VC firm 83North. It took the total equity funding raised by WhiteSource to $46m.
Founded in 2011, WhiteSource has built a software platform that helps organisations utilise open-source software securely. It plans to direct the series C funding toward growth in the enterprise market, where Microsoft is among its customers.
SGE director Martin Angert said: “WhiteSource has established the standard for open source security solutions with its strong leadership and breakthrough innovation. We are excited to join WhiteSource on their journey to help businesses develop better software, faster.”
WhiteSource raised $1m in a 2013 series A round led by venture capital firm Peregrine Ventures and backed by various angel investors, before 83North led its $10m series B in June 2017, investing alongside M12 (then known as Microsoft Ventures) and private investor David Strohm.
