SonarSource, a Swiss provider of products that help customers manage the code quality of their applications, has raised $45 million in funding. The investor was Insight Venture Partners. In addition to this investment, Richard Wells, managing director of Insight Venture Partners and Matt Gatto, a vice president at the venture capital and private equity firm, have been added to SonarSource’s board of directors.
GENEVA, Switzerland, Nov. 29, 2016 /PRNewswire/ — SonarSource, the leader in code quality management, today announced the closing of a $45 million USD minority investment by global venture capital and private equity firm, Insight Venture Partners. Richard Wells, Managing Director and Matt Gatto, Vice President at Insight will be joining the company’s Board of Directors.
Founded in Switzerland in 2008 by Olivier Gaudin, Freddy Mallet and Simon Brandhof, SonarSource provides products for continuous code quality of applications. Adopted by more than 80,000 companies worldwide, the open source solution fundamentally changes the way to manage applications’ maintainability, reliability and security. In addition, SonarSource provides an enterprise-level solution to more than 700 customers, including eBay, Bank of America, and BMW, as well as 50 of the Fortune 100 organizations.
The self-funded company has grown significantly since inception, and will use the new capital to further accelerate growth and continue to pursue its vision of enabling developers to continuously release highly maintainable, reliable, and secure code.
“SonarSource was founded with the goal to become the world’s leading solution to manage technical debt, reduce maintenance costs and operational risks, ultimately developing better software,” said Olivier Gaudin, CEO of SonarSource. “Our collaboration with Insight Venture Partners allows us to benefit from their expertise and support to build a global organization, strongly accelerate the growth of our business and address our rapidly expanding market.”
“Code quality management has become a key concern for companies who maintain ever-expanding code bases, and SonarSource has become the industry standard,” said Richard Wells. “We are pleased to add SonarSource to our portfolio of companies as they continue to provide enterprises and organizations with innovative solutions to manage their code base.”
About Insight Venture Partners:
Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth software and internet-enabled companies that are driving transformative change in their industries. Founded in 1995, Insight has raised more than $13 billion and invested in more than 250 companies worldwide. Our mission is to find, fund and work successfully with visionary executives providing them with practical, hands-on growth expertise to foster long-term success. For more information on Insight and all of its investments, visit http://www.insightpartners.com or follow us on Twitter: @insightpartners.