- It added that this funding will accelerate product development and market expansion for ActiveState’s unique software dependency, build, and risk management platform
- While open source is a boon for enterprises, its decentralised nature places a heavy burden on development, security, and compliance teams
ActiveState Software Inc. announced that it has secured a strategic investment from Turn/River Capital, a technology-focused growth equity firm. It added that this funding will accelerate product development and market expansion for ActiveState’s unique software dependency, build, and risk management platform.
Bart Copeland, ActiveState CEO said, “We’re thrilled to join with Turn/River. Their unique model, deep expertise, and, most importantly, their exceptional fit with our culture bring us even closer to realizing our vision for modern software development with the ActiveState Platform.”
Helps enterprises reduce risk, improve security
Enterprise use of open source is pervasive, strategic, and growing rapidly. While open source is a boon for enterprises, its decentralised nature places a heavy burden on development, security, and compliance teams. In a recent audit of over 1200 commercial codebases, 75 per cent had security vulnerabilities and 67 per cent had licensing conflicts.
The ActiveState Platform helps enterprises reduce risk, improve security, and manage compliance by identifying vulnerabilities and other issues in third-party code both before and after the code is adopted as per the company. Unlike other solutions that deal with these issues after-the-fact, ActiveState’s solution is integrated into the development workflow from the beginning. The Platform includes the proactive security resolution and advanced build, package, and policy management features needed for modern software development.
Dominic Ang, Turn/River Founder and Managing Partner, continued, “ActiveState makes it possible for enterprise customers to harness the power of open source software in a way that meets all of their development, security, and compliance needs. We are thrilled to make this strategic investment, as well as provide go-to-market expertise, to help the team execute on their vision for making open source software ubiquitous and secure for enterprise users.”