Israel-based open source-focused cybersecurity software producer WhiteSource secured $75m yesterday in a series D round featuring M12, the corporate venture capital arm of software provider Microsoft.
The round was led by Pitango Growth, the growth equity vehicle for VC firm Pitango, and it included Susquehanna Growth Equity (SGE), a subsidiary of quantitative trading firm Susquehanna International Group, in addition to VC firm 83North.
WhiteSource has created a platform that enables enterprise customers to automate the compliance process for open source software applications, targeting each open source component in the software to secure vulnerabilities.
The company has now raised $121m since it was founded in 2011, $35m of which came in a 2018 series C round led by SGE and backed by existing investors M12 and 83North. Peregrine Ventures is among its earlier backers, as are private investors including David Strohm.
Mony Hassid, managing director at M12 and its Europe, Middle East and Africa lead, said: “Early on, we recognised WhiteSource as a leader in the ‘shift left’ movement, helping enterprises take cybersecurity precautions earlier in the software development lifecycle.
“Since our initial investment in 2017, WhiteSource has made Microsoft a customer and a go-to-market partner with joint sales and product integrations via the M12 platform. We are proud to support WhiteSource’s impressive growth and promote their vision for automated open source security.”
