FOSSA scores $8.5 million Series A to help enterprise manage open source licenses

TechCrunch | 9/16/2019 | Staff
hoppers911 (Posted by) Level 4
Click For Photo: https://techcrunch.com/wp-content/uploads/2019/09/GettyImages-655147030.jpg?w=600




As more enterprise developers make use of open source, it becomes increasingly important for companies to make sure that they are complying with licensing requirements. They also need to ensure the open sources bits are being updated over time for security purposes. That’s where FOSSA comes in, and today the company announced an $8.5 million Series A.

The round was led by Bain Capital Ventures with help from Costanoa Ventures and Norwest Venture Partners. Today’s round brings the total raised to $11 million, according to the company.

Company - Founder - CEO - Kevin - Wang

Company founder and CEO Kevin Wang says that over the last 18 months, the startup has concentrated on building tools to help enterprises comply with their growing use of open source in a safe and legal way. He says that overall this increasing use of open source great news for developers, and for these bigger companies in general. While it enables them to take advantage of all the innovation going on in the open source community, they need to make sure they are in compliance.

“The enterprise is really early on this journey, and that’s where we come in. We provide a platform to help the enterprise manage open source usage at scale,” Wang explained. That involves three main pieces. First it tracks all of the open source and third-party code being used inside...
(Excerpt) Read more at: TechCrunch
Wake Up To Breaking News!
Don't panic!
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!