Sonatype announces its US$80million minority investment led by global alternative asset firm TPG.
Expanding Sonatype’s Nexus platform offerings, which is now used by more than 10 million software developers and 1,000 enterprises worldwide, this capital will be leveraged to accelerate marketing, sales, R&D investments and strategic corporate objectives.
“Open source ecosystems offer incredible value without any direct cost, and nearly everyone, whether individual developers, large enterprises, or government agencies, is reaping the benefit,” says Wayne Jackson, CEO of Sonatype, in a press release.
“Open source innovation has never been more vibrant but, as with any software, there is also a potential downside. At Sonatype, we’re enabling organisations to confidently embrace open source so that they can both accelerate innovation and also mitigate risk. TPG is a great addition to our existing team of world-class investors and this transaction enhances an already strong balance sheet.”
The year, Sonatype also achieved an 81% increase in year-over-year (YoY) sales in 1H 2018; 117% increase in YoY pipeline ACV /deal; 114% YoY increase in monthly application scans via Nexus Lifecycle, and 1.5 million Nexus Repository users have been added on the company’s platform since 1 January 2018.
Written by Leah Alger