Cybersecurity startup WhiteSource announced it has raised $75 million in Series D funding, highlighting how tech and security investors are increasingly focusing on the open source software security market.
The latest investment of $75 million, drawn mostly from Pitango Growth and existing investors M12, Susquehanna Growth Equity, and 83North, is significantly more than the approximately $46 million the company raised combined through previous funding rounds. As part of the deal, Pitango Growth managing partner Isaac Hillel will join WhiteSource’s board of directors.
CHRIS CHURCH JUST wanted to make cool stuff for cameras. In 2011 he left his job at the cloud software company he co-founded to run Dynamic Perception, a camera hardware company he’d initially started as a hobby. But the hardware business was maddening.
Just getting quotes from different manufacturers would take weeks. Some shops wouldn’t respond to a request for a quote at all. Others would provide wildly different quotes, making it hard to know what was driving the costs of a certain project. And once it was time to actually manufacture the prototypes, he would be left in the dark throughout the process, unless something went wrong. “It was frustrating because the processes seemed so archaic,” he says. “I spent too much time on [manufacturing] operations.”