Early stage startup Socket on Tuesday announced the closing of a $40 million Series B funding round that brings the total raised by the company to $65 million.
The San Francisco-based Socket said the new investment round was led by Abstract Ventures, with additional support from multiple angel investors.
Launched in May 2022, Socket is working on technology capable of constantly monitoring open source dependencies for vulnerabilities and suspicious behavior.
According to the company, its platform can proactively detect and block over 70 signals of supply chain risks in open source code immediately after it has been published to public repositories, effectively blocking zero-day supply chain attacks.
With the recently added support for Java and Ruby, Socket’s platform now covers six programming language ecosystems, protecting its customers from hidden code, malware, misleading packages, permission creep, and typo-squatting.
Socket’s technology monitors packages in real-time to detect potentially malicious updates, hijacked packages, and the introduction of risky APIs.
Socket says its product, which is already used by organizations in the finance, manufacturing, media, and tech sectors, has been detecting and blocking more than 100 supply chain attacks per week.
The new funding will help the company accelerate product development and hire new talent in engineering, product, and sales roles, expanding its team to better meet increasing demand for its platform.
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