- Enterprise software development company Crosscode helps companies manage their software assets
- Crosscode recently announced it closed a $9.25 million private placement of Series A preferred stock
Crosscode is an enterprise software development company that helps companies manage their software assets. Recently, Crosscode announced it closed a $9.25 million private placement of Series A preferred stock.
Currently, Crosscode produces Panoptics — which is a code-level software mapping platform that makes it easier and less expensive for companies to perform business-critical tasks like cloud migration, secure customer data, and modernizing business operations. To perform these functions today, it is a manual task. And Crosscode has a goal of automating large portions of those tasks.
With this round of funding, Crosscode is going to continue developing the Panoptics platform and further enhancing its sales and marketing functions. National Securities Corporation (a wholly-owned subsidiary of National Holdings, Inc.) was the sole placement agent for the transaction. And the Liquid Venture Partners group at National Securities Corporation sourced and executed the offering.
“We are gratified by the investor confidence in our mission. We look forward to using this capital to develop our business and the Panoptics platform, and provide exceptional value to our customers, whether their needs lie in change management or cybersecurity,” said Crosscode CEO Aditya Sharma.
The Panoptics’ capabilities include the ability to automatically discover applications running in a customer’s software environment and creating an enterprise-wide code level application’s dependency map, using static and dynamic analysis techniques for identifying security issues in custom code and third-party components, enabling organizations to make software changes with confidence with code-level mapping, allowing customers to create rule-based alerts and notification to monitor and manage changes in the runtime environment, and identify software changes in the runtime environment and provide chronological log accessible by IT auditors.
Sharma previously held executive roles at Cognizant, Cisco, Deloitte, Microsoft, UnitedHealth Group, IBM, CA Technologies, and CSC. And Crosscode co-founder, CTO, and CISO Soumik Sarkar was previously director of cyber security at Glint Inc. (acquired by LinkedIn0, enterprise security architect at Rocket Fuel Inc (acquired by Sizmek), director of engineering at Tricipher, Inc. (acquired by VMware).