SonarSource plans to use the funds to open a new regional HQ in Singapore. Here are the top-line bullets you need to know.
SonarSource, a clean code and code security software provider, has raised $412M in an unattributed venture capital round that drew participation from Advent International, General Catalyst, Insight Partners, and Permira.
How’s the company performing?
- Switzerland-based SonarSource enables developers to write and maintain clean code.
- Its commercial customer base has grown by over 2,000% over the past 4 years. 5M+ developers across over 300K firms, such as NASA, Alphabet, IBM, and Microsoft, make use of the company’s commercial and community products.
- It caters to 80 Fortune 100 firms.
- SonarSource’s gross margin profile is over 90%. Its ARR currently sits at $175M, and the company expects it to reach $240M this year.
- The company currently has 290 employees and plans to expand its headcount to about 400.
- It has offices in Switzerland, France, Germany, and Texas.
Source: SonarSource
Why does the market matter?
- The static code analysis software market is expected to reach a value of $2B by 2027, growing at a CAGR of 15.1%, according to 360 Market Updates.
- Organizations are increasingly turning to solutions in this space in order to enhance source code quality and achieve faster software release times.
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