Clean code platform SonarSource raises $412 M led by Advent International and General Catalyst
SonarSource, a clean code platform, secured $412 million from new and existing investors, valuing the company at $4.7 billion.
New investors Advent International and General Catalyst are leading the round, with current investor Insight Partners also joining. Permira’s Growth Opportunities Fund also attended the round.
As the firm reaches $1 billion in revenue, SonarSource will utilize the funds to expand its global go-to-market team.
The funds will be used to treble the company’s sales force in 2022 and expand the marketing team in Geneva, Switzerland, Annecy, France, Bochum, Germany, and Austin, Texas. The sales and marketing initiative will help the company reach out to 70 million software developers. SonarSource will also establish a new regional headquarters in Singapore, allowing the company expands its operations in the rapidly growing APAC market.
“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. 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,”Olivier Gaudin, CEO and co-founder of SonarSource.
SonarSource‘s products, which more than five million developers use, help organisations optimise the value of their software by assisting developers and development teams in writing high-standard code that is bug-free, secure, and consistent across the board.