Battery Ventures announced a significant investment in AdaCore, a leader in providing software development tools for safety and security-critical systems. This strategic deal will accelerate AdaCore’s expansion and position the company as a go-to source for software development tooling.
Launched three decades ago, AdaCore specializes in developing software solutions for industries where safety, security, and reliability are paramount. The company’s tools are instrumental in building critical systems across aerospace, defense, transportation, and automotive systems. AdaCore specifically builds development and verification tools for the Ada, SPARK, C/C++, and Rust programming languages, enabling customers to use multiple languages inside one integrated development environment.
AdaCore is known for its ability to meet unique customer needs, ranging from supporting off-the-shelf platforms to the particular hardware and software targets that are common in the high integrity, embedded market, where code failure could result in the loss of life, significant property damage, or dire environmental consequences.
Utilizing Battery Ventures’ investment, AdaCore will enhance its product portfolio and develop innovative new tools and technologies that address the evolving needs of companies pursuing high-integrity software development. The company will also expand its offerings in static and dynamic analysis, machine learning, formal methods, safety certification, and cybersecurity.
DDA & Company served as the exclusive financial advisor to AdaCore SAS on this transaction.
KEY QUOTES:
“AdaCore’s longevity, and its dedication to advancing high integrity software, impressed us tremendously, as did the key role the company’s products play in powering critical industries.”
– Morad Elhafed, general partner at Battery Ventures
“We are excited to support AdaCore’s ambitious vision, driving innovation that will redefine standards in software-development tooling for high-stakes applications.”
– Robbie Payne, a veteran software executive and Battery executive-in-residence; Payne was previously the CEO of CAMBRIO and is joining AdaCore’s board of directors.
“We are at a pivotal moment in the evolution of software development, where the demand for high integrity and secure software has never been more critical. Our partnership with Battery Ventures is a testament to our shared commitment to setting new benchmarks in the industry. With this strategic investment, AdaCore is poised to expand its technological horizons and reinforce its mission to provide developers and enterprises with the most reliable tools and assistance for building mission-critical systems. I am thrilled about the opportunities that lie ahead and am confident that our enhanced capabilities will drive innovation and elevate the state of the art in high integrity software development.”
– Franco Gasperoni, CEO at AdaCore
