Open source software support company Tidelift Inc. revealed today that it has raised $27 million in new funding to improve open source health and security.
Dorilton Ventures led the Series C round with participation from Kaiser Permanente, Atlassian Ventures, General Catalyst and Foundry Group. Including the new funding, Tidelift has raised $67 million to date, according to data from Crunchbase. Previous rounds include $25 million in January 2019 and $15 million in May 2018.
Founded in 2017, Tidelift helps organizations effectively manage the open source code behind modern apps. To do this, the company provides tools, data, and strategies to drive an organization-wide approach to improving the health and security of the open source code that powers applications.
Tidelift offers a subscription service that provides customers with enterprise-grade support. Unlike other commercial support subscriptions, Tidelift provides the service of its “maintenance partners”, a network of open source maintainers who ensure that the open source supply chain meets company standards.
In a blog postDonald Fischer (pictured), co-founder and chief executive of Tidelift, says open source software is so widespread it can become invisible.
“But software is a human artifact. People do,” Fischer wrote. “In the case of the libraries, frameworks, and packages that make up the bulk of modern application code, the overwhelming majority of the people behind that code never signed up to be part of the ‘software supply chain’ of an organization.”
This is where Tidelift comes in with a solution that pays open source maintainers to validate that their packages comprehensively meet set standards and are production-ready.
“Amid growing security threats and stricter government software security standards, Tidelift is uniquely positioned to work with our open source maintainer partners to help maximize the value organizations derive from open source while reducing risk,” Fischer said in a statement. “Our recent survey confirms this claim, with results showing that 35% of respondents from large organizations believe that open source software supply chain security is the most pressing issue for application development teams. »
Tidelift has found success with an expanding customer base including the Federal National Mortgage Association, Bloomberg LP, Hughes Network Systems LLC, Adobe Inc., NASA Jet Propulsion Laboratory, IEEE, US Geological Survey and the United States Air Force.
In January, Fischer spoke with Dave Vellante, host of theCUBE, SiliconANGLE Media’s live streaming studio. He discussed the state of open source security and how Tidelift’s solution solves the problem for businesses while simultaneously supporting the developer community: