Sonatype, a supplier of supply chain automation services, has received a majority investment from Vista Equity Partners.
Last year, the FinTech completed an $80m minority investment from TPG, Accel, Goldman Sachs and Hummer Winblad. A number of previous Sonatype backed have held shares in the company after the new Vista deal.
The investment is aimed at continuing Sonatype’s growth and enhancing its product portfolio.
Sonatype provides open source health and hygiene data which it labels Nesux Intelligence. The data is collated from public and private sources and is layered with machine learning and AI to help teams make better decisions and innovate quicker.
The technology is used by financial services to mitigate their security risks posed through working with open source and third-party software companies.
Over the past three year, Sonatype has seen an annual growth rate close to 250%.
Sonatype CEO Wayne Jackson said, “Vista’s standing as the preeminent investment firm and their commitment to growth and innovation perfectly aligns with our passion for helping businesses build software faster and more securely.”
Last month, it was reported Vista Equity was exploring a potential sale of its minority stake in financial software developer Finastra.
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