Lineaje (see Pulse 2.0 profile here), a leader in continuous software supply chain security management, announced it raised $20 million in Series A funding led by Prosperity7 Ventures, Neotribe, and Hitachi Ventures, along with existing investor Tenable Ventures. This round also included participation from Carahsoft (the world’s largest software distributor serving the U.S. government) along with Wipro Ventures, Secure Octane Investments, J-Ventures, and Alumni Ventures. And with additional contributions from executives at Zscaler, CrowdStrike, and Trellix, this investment brings Lineaje’s total funding to $27 million.
This investment validates the escalating global demand for robust software supply chain security solutions and recognizes Lineaje’s innovative approach to addressing the critical challenges faced by enterprises across diverse industries.
Lineaje will utilize the new investment to accelerate customer acquisition and fortify its AI-powered platform. It will expand its innovative BOMbots insights and introduce new advancements to resolve software supply chain issues autonomously.
Lineaje’s research has shown that an average of 250 components with unknown origins are hidden within every application, creating significant exposure points for the software supply chain. And this discovery is further amplified by high-profile incidents like the SolarWinds breach, the widespread 3CX compromise, the XZ supply chain attack, and even the recent CrowdStrike incident involving a flawed software update.
KEY QUOTES:
“This funding marks a pivotal moment for Lineaje as we spearhead the global transformation in software supply chain security and management. Our mission is to empower both public and private sector organizations to effortlessly maintain and secure their entire software ecosystems. A key focus will be advancing our Lineaje AI capabilities to deliver known, secure open-source software to organizations, dramatically reducing enterprise software maintenance investments. With great global partners joining the round, we now have both the relationships and the capital necessary to drive global business for our award-winning product portfolio.”
- Javed Hasan, CEO of Lineaje
“We view software supply chain attacks as an existential threat to modern enterprises. Lineaje’s comprehensive approach, going beyond point solutions to holistically address software security from development to deployment, truly sets them apart. We are proud to support Lineaje as they revolutionize this crucial aspect of cybersecurity and safeguard the digital ecosystems that underpin our global economy.”
- Abhishek Shukla, managing director, Prosperity7 Ventures
“At Hitachi Ventures, we invest in solutions that tackle the world’s most pressing challenges and promote sustainability. The importance of software in critical infrastructure is undeniable, and the threat of software supply chain tampering is significant. We believe Lineaje is uniquely positioned to address this issue and can significantly enhance global security.”
- Gayathri Radhakrishnan, partner, Hitachi Ventures
“As a top government IT solutions provider and an investor in Lineaje, Carahsoft recognizes the transformative potential of software supply chain maintenance and security management technologies in advancing our mission-critical capabilities. We are excited to go to market with Lineaje’s cutting-edge solutions that redefine efficiency and security in government operations and to leverage their expertise to drive forward-thinking solutions that meet the evolving needs of our customers.”
- Craig P. Abod, Carahsoft President
“Lineaje is at the vanguard of a vitally important and emerging software category–continuous software supply chain security. This space is multiplying, as companies across all sectors are increasingly combining in-house, third-party, and open-source software across their organization. Without visibility into code across all these sources, they may find themselves at risk, which has sparked the need for an in-depth and effective solution. We see Lineaje as a natural sector leader because of its unique product that delivers unprecedented visibility into a company’s entire software supply chain. We are thrilled to back the vision of Javed Hasan and Anand Revashetti, two world-class operators who’ve converted their firsthand experience of this problem into a product the market loves.”
- Rebecca Mitchem, partner at Neotribe
