On the heels of closing $8.5 Million in Series A Funding, FOSSA recognized for scalability, sales growth and workforce diversity
SAN FRANCISCO, Nov. 12, 2019 /PRNewswire/ -- FOSSA, the open source management company, today announced that it has been selected for the prestigious Upstart 100 List, CNBC's annual list of 100 top startups to watch. The Upstart 100 is an exclusive collection of companies that are building brands, raising money and creating jobs on their path to becoming tomorrow's household names. CNBC's selection committee chose FOSSA from more than 600 nominees, scored across eight equally weighted quantitative metrics, including scalability, sales growth and workforce diversity.
"FOSSA was founded as an open source project to help developers manage open source software," stated Kevin Wang, CEO of FOSSA. "Over the last year, we have experienced tremendous growth, raising additional funding, expanding our product to the enterprise. We are honored to be recognized as a CNBC Upstart 100 company and look forward to building off of our success in 2019 through 2020 and beyond."
There are several benefits that make open source software attractive to the enterprise including cost, speed and flexibility, among others. However, most enterprises don't have a formal program to ensure effective management of the various licensing, security and quality issues when utilizing open source software. And those that do, rely on a painstaking process of manual code reviews and spreadsheets. Unlike traditional offerings, FOSSA focuses on automating the workflow of open source management both within and outside of the software development lifecycle (SDLC). This enables enterprises to quickly identify and mitigate risks, improve engineering efficiency and accelerate time to market.
Founded in 2015, FOSSA is the world's first Modern Open Source Management platform. Designed to support enterprise scale for development and legal teams alike, FOSSA provides component intelligence, continuous compliance, and cross-team collaboration solutions that enables organizations including Uber, Twitter, Zendesk and Verizon Media to quickly identify and mitigate risks, improve engineering efficiency and accelerate time to market. For more information, please visit www.fossa.com.
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