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Code Security Firm SonarSource Raises $412 Million at $4.7 Billion Valuation

Geneva-based code quality company is cashing in on heightened investor interest in the software supply chain security space

Swiss code quality software firm SonarSource on Tuesday announced a $412 million funding round at a heady valuation of $4.7 billion as investors continue to pour money into startups tackling software supply chain security.

SonarSource said the financing was led by new investors Advent International and General Catalyst. Insight Venture Partners, which invested $45 million back in 2016, also participated in the latest round.

Sonar Source logoFounded in Switzerland in 2008 by Olivier Gaudin, Freddy Mallet and Simon Brandhof, SonarSource provides products for continuous code quality of applications. The company competes with the likes of Veracode and Checkmarx in a fast growing market for tools to secure code in the software supply chain.

SonarSource, which maintains dual headquarters in Geneva and Texas, provides an IDE extension for on-the-fly analysis and coding guidance and products to handle static analysis for continuous codebase inspection and CI/CD workflows.

The company claims its products help more than 5 million developers write high-standard code that is free of bugs and security vulnerabilities.

As software gets updated continuously, SonarSource tools can be used to embed clean code directly into the development process, improving the overall health of the code base and reducing tech debt, the company said.

SonarSource said it will use the new investment to grow its go-to-market team globally as the company drives toward an ambitious $1 billion revenue target.

The company plans to open new regional headquarters in Singapore to drive a push into the APAC market. 

Related: Codecov Bash Uploader Dev Tool Compromised in Supply Chain Hack

Related: Code Analysis Company SonarSource Acquires RIPS Technologies

Related: Critical GoCD Authentication Flaw Exposes Software Supply Chain

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Ryan Naraine is Editor-at-Large at SecurityWeek and host of the popular Security Conversations podcast series. Ryan is a veteran cybersecurity strategist who has built security engagement programs at major global brands, including Intel Corp., Bishop Fox and GReAT. He is a co-founder of Threatpost and the global SAS conference series. Ryan's past career as a security journalist included bylines at major technology publications including Ziff Davis eWEEK, CBS Interactive's ZDNet, PCMag and PC World. Ryan is a director of the Security Tinkerers non-profit, an advisor to early-stage entrepreneurs, and a regular speaker at security conferences around the world. Follow Ryan on Twitter @ryanaraine.