Company Doubles Customer Base, Expands Globally and Appoints a New Cadre of VPs
WhiteSource, the leader in continuous open source security and license compliance management, announced today that the company exceeded its goals for aggressive year-over-year growth in 2017 by more than doubling its customer base. WhiteSource also expanded its suite of patented technology, doubling its employee count, and opened new offices in New York and Boston.
This continued company momentum speaks to significant market opportunity and heightened enterprise demand for Software Composition Analysis solutions that manage and secure the open source components in software applications. The broad-based need for the company's SaaS and on-premise solutions fueled the impressive growth in WhiteSource's customer base.
"Our rapid growth is the result of our dominant position in the Software Composition Analysis (SCA) market space. Through our relentless focus on product innovation and customer success, we have become the trusted global standard SCA platform for more than 400 brands," explains Rami Sass, CEO and co-founder of WhiteSource. "Over the past year, we have invested heavily in building technology that empowers businesses to build better software by harnessing the power of open source. As a result, we have emerged as the leading SCA solution."
WhiteSource raised a $10 million in Series B round of financing in June of 2017, led by 83North, with additional participation from Microsoft Ventures and Angel investor David Strohm of Greylock Partners, providing ample resources for rapid growth in the new year.
As a part of the move to ramp up the company's growth, WhiteSource has brought on a new cadre of VPs to drive the efforts in product innovation and revenue opportunities.
Looking back at the year, here are some additional milestones that WhiteSource achieved:
- Scores Strongest Current Offering in Forrester's Wave: Software Composition Analysis (SCA) Report.
- WhiteSource and Microsoft launched WhiteSource Bolt: an embedded solution within the Microsoft Visual Studio Team Services (VSTS) and Team Foundation Server (TFS) platforms for open source security and license compliance. In addition, WhiteSource recently released a new offering: WhiteSource on Azure Cloud Services. The new offering provides Microsoft customers the same confidence, time and efficiency that Microsoft Azure customers enjoy.
- IBM Security signed an OEM partnership with WhiteSource to provide their IBM Application Security on Cloud (ASoC) customers with a comprehensive open source security vulnerability management solution, which provides full visibility of the open source components used by developers and alerts on vulnerable components.
- Making its first entrance into the Chinese market with a global reseller agreement, WhiteSource also began work with new partners in Japan, Korea, Australia, India, Turkey, Denmark, and Russia.