Tidelift bags $27m to tackle supply chain security challenges

TideLift, a company on a mission to deal with open-source supply chain health and security, has snared $27m from a Series C funding round.

The round was headed by Dorilton Ventures and also saw participation from Kaiser Permanente, Atlassian Ventures, Foundry Group and General Catalyst.

As a part of the investment, Daniel Freeman of Dorilton Ventures will join the Tidelife board of directors.

According to Security Week, Tidelift’s goal is to connect the needs of enterprise application development teams and open-source maintainers to improve the security of open source code.

Tidelift said, “A central element of Tidelift’s model is that the company pays the independent open-source maintainers behind thousands of open-source components to ensure their projects meet enterprise standards now and into the future. The more subscribers that use an open-source component, the more its maintainers get paid, with no cap on potential earnings.”

Earlier this year, Legit Security, a company looking to tackle issues regarding software supply chain security, bagged $30m from a Series A investment round.

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