SAN FRANCISCO, CA, FOSSA, the open source management company, today announced that it has closed a $23.2 million Series B funding round.
The financing comes from Bain Capital Ventures, Canvas Ventures and Costanoa Ventures, bringing its total amount of funding to $35 million. The company also announced the launch of FOSSA Security Management and continued expansion into EMEA, further validating its leadership position in the software composition analysis (SCA) market.
Up to 90% of any piece of software is from open source, creating countless dependencies and areas of risk to manage. FOSSA is the most reliable automated policy engine for security management, license compliance, and code quality across the open source stack. With FOSSA, engineering, security, and legal teams all get complete and continuous risk mitigation for the entire software supply chain, integrated into each of their existing workflows. FOSSA enables organizations like Uber, Zendesk, Twitter, Verizon, Fitbit, and UiPath to manage their open source at scale and drive continuous innovation. Learn more at https://fossa.com.
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