Code security startup Socket raises $60M in funding
Cybersecurity startup Socket Inc. today disclosed that it has raised $60 million in funding at a $1 billion valuation.
Thrive Capital led the Series C round with participation from Andreessen Horowitz, Capital One Ventures and others. The investment brings Socket’s total outside funding to $125 million.
Developers often incorporate open-source components, or packages, into their software projects. They usually download such modules using a program called a package manager that speeds up installation-related tasks. In recent years, package managers have emerged as a major target of cyberattacks. Hackers inject malicious code into legitimate open-source projects to compromise developer machines.
“A lot of what AI produces reaches for open source dependencies developers have never read,” founder and Chief Executive Officer Feross Aboukhadijeh wrote in a blog post. “The volume of third-party code entering production keeps going up, the time anyone spends reviewing it keeps going down, and security tools from the previous era can’t keep up.”
