Sonarsource Raises $412M To Scan Codebases For Bugs And Vulnerabilities
04/26/22, 10:00 AM
Location
genevaMoney raised
$412 million
Maintaining source code is one of the toughest challenges that software developers face. In a 2020 survey from Sourcegraph, 51% of developers said that they have more than 100 times the volume of code they had ten years ago while 92% say the pressure to release software faster has increased. The growing responsibilities can lead to poor-quality code slipping into production environments, increasing costs. One report estimates the impact of buggy software at $2.84 trillion per year.
Company Info
Location
geneva, alabama, united states
Additional Info
The startup sought to capitalize on its success with View, a commercial plugin for project portfolio management. SonarSource’s gross margin profile is above 90% and annual recurring revenue stands at $175 million, which the company projects will reach $240 million this year. In addition, SonarSource will open a new regional headquarters in Singapore, allowing the company to build its business within the burgeoning Asia-Pacific market,” Gaudin added. “SonarSource enables companies to improve the quality of their source code.”Detecting issues in source code “SonarSource has a different approach — we’re going to help the engineering team do a better job delivering code and help them invest the time they spend actually writing new code, as opposed to debugging old code. SonarSource doesn’t claim have overcome these. “SonarSource will use [the latest] investment to double its sales force in 2022 and grow its marketing team across existing offices in Geneva, Switzerland; Annecy, France; Bochum, Germany and Austin, Texas … SonarSource has a different approach — we’re going to help the engineering team do a better job delivering code and help them invest the time they spend actually writing new code, as opposed to debugging old code.”Insight Partners and Permira also participated in SonarSource’s latest financing round.