October 17, 2018 / 1:02 PM / a month ago

Open source security management firm WhiteSource raises $35 mln

TEL AVIV, Oct 17 (Reuters) - Open source security management firm WhiteSource said on Wednesday it raised $35 million in a funding round led by Susquehanna Growth Equity, with participation by existing investors 83North and M12 - Microsoft Ventures.

This adds to the $11 million raised by Israel's WhiteSource in previous financing rounds.

Founded in 2011, WhiteSource has more than 500 customers, including Microsoft, IBM and Comcast.

Open source has become the main building block in modern applications, WhiteSource said.

"However, as the open source community grows, and the number of reported vulnerabilities keeps climbing, manually verifying the security and compliance of open source components can no longer provide the necessary control over the security of these components," the company said.

With offices in New York, Boston and Tel Aviv, WhiteSource is planning to open sales, marketing and customer support operations in London and San Francisco. (Reporting by Tova Cohen, Editing by Ari Rabinovitch)

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