SonarSource, the Leading Platform for Clean Code, Raises $412 Million in New Investment
SonarSource, the leading platform for clean code, today announced it has raised $412 million from new and existing investors, at a valuation of $4.7 billion. The round is led by new investors Advent International and General Catalyst, with existing investor Insight Partners participating. Permira’s Growth Opportunities Fund also participated in the round.
SonarSource will use the investment to grow its go-to-market team globally as the company drives toward $1 billion in revenue.
“SonarSource is an outstanding business that has positioned itself as a category-defining leader in clean code, with a trusted reputation among developers and a truly differentiated solution,” said Bryan Taylor, Head of Advent’s Technology Investment Team and a Managing Partner in Palo Alto. “We are thrilled to partner with Olivier and the SonarSource team as they build a major platform within the software development ecosystem, accelerating the rapid growth in their revenue and user community.”
Used by more than five million developers, SonarSource’s solutions enable enterprises to maximize the value of their software by helping developers and development teams write high-standard code, which is free of bugs and security vulnerabilities, and consistent across the board. As software gets updated continuously, SonarSource ensures that only clean code is embedded directly into the development process, systematically improving the overall health of the code base and meaningfully reducing tech debt. This unlocks significant resource and time savings so developers can focus on innovating, delivering better products and improving customer experience, thereby boosting key business metrics.
“Source code is the key component of software. At SonarSource, we enable companies to make this source code an asset rather than a liability. This delivers huge value, especially when you know this is done as part of the development process and requires no extra effort,” said Olivier Gaudin, CEO and co-founder of SonarSource. “With the market recognizing the importance of code, we have a clear path to $1 billion in revenue. Having the right people and partners around the table will help us to move swiftly toward that goal and prepare for public markets.”
“SonarSource has a bold vision for transforming the way organizations build software. This vision has been clearly validated by the company’s skyrocketing customer adoption and outstanding reputation within the developer community,” said Deep Nishar, Managing Director, General Catalyst. “General Catalyst is excited to support SonarSource in broadening its impact on a global stage.”
The company will use this 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. The investment in sales and marketing will help the company expand its reach among the world’s 70 million software developers. In addition, SonarSource will open a new regional headquarters in Singapore, allowing the company to build its business within the burgeoning APAC market.
The investment comes as SonarSource continues to build rapid momentum. Key company milestones include:
- Over five million developers at more than 300,000 organizations use SonarSource’s commercial and community products to improve their code quality.
- In the last four years, SonarSource grew its commercial customer base by more than 2,000%.
- 80 Fortune 100 companies use the platform. IBM, Microsoft, Barclays, Alphabet and NASA are among the major organizations using SonarSource today.
“As an early investor in SonarSource, we’ve been extremely impressed with the company’s continuing maturity and accelerating market penetration. It comes as no surprise: enterprises everywhere need to develop code with high standards quickly, and SonarSource is the only solution enabling that,” said Richard Wells, Managing Director at Insight Partners. “We’re excited to continue our collaboration with SonarSource as the company enters a new stage in its growth journey.”
SonarSource’s industry leading solution enables developers and development teams to write clean code and remediate existing code organically, so they can focus on the work they love and maximize the value they generate for businesses. Its open source and commercial solutions – SonarLint, SonarCloud, and SonarQube – support 29 programming languages. Trusted by more than 300,000 organizations globally, SonarSource is considered integral to deliver better software.
About Advent International
Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 390 private equity investments across 41 countries, and as of December 31, 2021, had $88 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 265 private equity investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. For over 35 years, Advent has been dedicated to international investing and remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.
About General Catalyst
General Catalyst is a venture capital firm that invests in powerful, positive change that endures — for our entrepreneurs, our investors, our people, and society. We support founders with a long-term view who challenge the status quo, partnering with them from seed to growth stage and beyond to build companies that withstand the test of time. With offices in San Francisco, Palo Alto, New York City, London, and Boston, the firm has helped support the growth of businesses such as: Airbnb, Deliveroo, Guild, Gusto, Hubspot, Illumio, Lemonade, Livongo, Oscar, Samsara, Snap, Stripe, and Warby Parker. For more: www.generalcatalyst.com.
About Insight Partners
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of February 24, 2022, the closing of the firm's recent fundraise, Fund XII, brings Insight Partners' regulatory assets under management to over $90B. Insight Partners has invested in more than 600 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and Palo Alto. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Insight Partners meets great software leaders where they are in their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
10Fold for SonarSource
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Align Announces Additional Leadership for UK and EMEA to Support Continued Growth18.5.2022 17:11:00 CEST | Press release
Align, the premier global provider of technology infrastructure solutions celebrates significant growth throughout the UK and EMEA markets with management changes to support increasing demand. The appointment of Giulia Marcolina as Managing Director and Mike Konold as AV Solutions Director of Align’s UK-based headquarters, will enable the team to deliver innovative collaborative technology and state-of-the-art AV solutions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220518005833/en/ Giulia Marcolina, a 15 year veteran with Align, is named Managing Director of Align's UK-based headquarters. (Photo: Business Wire) Giulia brings over 25 years of IT experience, previously serving as Align’s Programme Manager, delivering corporate office relocation and consolidation projects for clients such as Blackrock, Total Gas and Power, and UBS. In her new role, she will lead Align’s team of project managers in building upon Align’s lon
RMS Advances Climate Risk Modeling and Moves More Models to High Definition18.5.2022 16:30:00 CEST | Press release
RMS®, a Moody’s Analytics company and world-leading risk modeling and solutions company, today announces it will be releasing four new High Definition™ (HD) models, including Europe Windstorm, North America Winterstorm (WT), North America Severe Convective Storm (SCS), and Terrorism. RMS HD Models represent the next generation of risk modeling, delivering deeper analysis and granularity from Moody’s. The HD probabilistic models incorporate a high-fidelity, simulation-based framework for modeling event frequency and severity, to provide a major step forward in the quality of catastrophe risk quantification. The framework allows for event footprints to be represented more realistically across larger event sets. The new RMS Europe Windstorm HD Model further enhances the current model and will cover 17 countries, adding Finland and Lichtenstein. The HD model includes a climate variability view and has expanded storm surge analytics to include the U.K., Ireland, France, and Belgium. Storm c
Suketu Upadhyay Elected to Vertex Board of Directors18.5.2022 16:30:00 CEST | Press release
Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today announced that Suketu (“Suky”) Upadhyayhas been elected to its board of directors as an independent director. Mr. Upadhyay is a global business executive with more than 20 years of experience in the pharmaceutical and medical technology sectors, serving in financial and strategy roles covering multiple areas of the life sciences sector. He is currently the Executive Vice President and Chief Financial Officer of Zimmer Biomet, a leading global innovator and manufacturer of orthopedic solutions, a position he has held since July 2019. “We are delighted to have Suky join the Vertex Board. His extensive financial and strategic experience in health care, paired with his leadership and expertise across biopharma and medtech, make him a valuable addition to our board of directors,” said Reshma Kewalramani, M.D., Vertex’s Chief Executive Officer and President. “It’s an honor to join Vertex, a company focused on serial innovation with an
Armory Makes Continuous Deployment Achievable and Effortless, at any Scale, for all Developers18.5.2022 16:17:00 CEST | Press release
Armory, the Continuous Deployment company empowering development teams to easily, reliably, safely, and continuously deploy software at any scale, today announced public early access to their new Continuous Deployment-as-a-Service product. Armory Continuous Deployment-as-a-Service delivers declarative deployments, across multiple environments, that support advanced strategies, so developers can focus on building great code rather than deploying it. “We believe deploying software continuously, at any scale, should be achievable and effortless for all developers of the world, not just the likes of Google and Netflix,” said Jim Douglas, President and CEO, Armory. “It’s our vision and mission to unlock innovation through software to make software continuous, scalable, secure, and safe, so developers can improve and protect their customers’ experience with confidence and ease.” To effectively compete in a software-defined world, development teams must ensure a stellar customer experience. S
Sermo Survey Reveals New Lung & Breast Cancer Research Rated as Most Interesting by Oncologists Attending ASCO This Year18.5.2022 15:15:00 CEST | Press release
A new survey from Sermo, a physician-first online community and leader in global HCP insights, timed to the annual American Society of Clinical Oncology (ASCO) conference found that nearly half (47%) of attending oncologists are most interested in new data being presented about lung cancer. This is followed by a similarly high interest in new data about breast cancer, as reported by 44% of oncologists surveyed. Additionally, oncologists/hematologists reported they are most excited about learning about tumor targeting antibodies treatments as reported by 54% of those surveyed. Ahead of ASCO’s Annual Meeting, new cancer research and innovations are the driving reason surveyed oncologists/hematologists are attending the conference this year (59%). However, how they plan to attend looks different to many oncologists, as only 18% of oncologists/hematologists surveyed said they will attend ASCO in-person this year. A Look Into the Pandemic’s Negative Impacts on Cancer Care Globally Oncologis
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom