Security News > 2020 > October > Open Source Management Firm FOSSA Raises $23 Million
San Francisco, CA-based FOSSA - an open source management firm - has raised $23.2 million in a Series B funding round from Bain Capital Ventures, Canvas Ventures and Costanoa Ventures; bringing the total raised to $35 million.
The company has simultaneously launched FOSSA Security Management, a product designed to help organizations secure their software supply chain - that is, the uncontrolled inclusion and use of open source software within their own software development.
Gartner's Technology Insight for Software Composition Analysis, published in November 2019, estimated that 90% of the code in 90% of software in development and production is open source.
Companies must take the security of open source software included in their own software development seriously.
"With FOSSA," says the firm, "Organizations can actively monitor their open source software for vulnerability and license risks and enforce the appropriate risk policies across their teams at scale for continuous risk mitigation." In an associated blog, the firm claims that the new product allows organizations to monitor their open source software for vulnerability and license risks as a single automated process during development and deployment, and enforce appropriate policies.