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SourceClear Raises $10M Series A to Redefine How Developers Build Software Safely

SAN FRANCISCO, CA--(Marketwired - Oct 27, 2015) - SourceClear, the security company for software developers, today announced that it has raised $10 million in Series A funding led by Index Ventures with participation from Storm Ventures. This funding will be used to expand SourceClear's executive, engineering and research teams.

SourceClear started in the fall of 2013 with a $1.5 million seed round -- led by former Cisco VP of Engineering Frank Marshall and Justin Somaini, Box's Chief Trust Officer -- with the thesis that securing today's applications depends on developers having security tools that integrate seamlessly into their workflow and toolchains. SourceClear worked with early adopters in the defense, financial, technology and retail industries that influenced the product and have since become paying customers.

Using open-source and third-party code is the new normal with libraries and frameworks now making up the majority of the source code being shipped in commercial software today. Unlike previous approaches to security, SourceClear works inside a developer's workflow and with a team's existing tool-chain, enabling visibility into the risks of using other people's code in real-time as the developers work. SourceClear's data-science and machine learning platform digs into the depths of open-source security issues at scale and at speed, uncovering issues not yet disclosed to the public.

"SourceClear has a tremendous opportunity to impact how the new era software engineering teams incorporate security into their development processes," said Shardul Shah, principal at Index Ventures, and SourceClear board member. "Based on the incredible response from customers, it is clear that the SourceClear team truly understands how to solve this long-standing challenge to build security tools that developers will embrace."

"We are all about building security tools that developers love," said Mark Curphey, founder and CEO of SourceClear. "To accomplish this, SourceClear has assembled a team of talented software engineers and security researchers who share a common purpose. We are creating security tools for developers, by developers."

About SourceClear
SourceClear is the security company for software developers. We are a team of software and security engineers helping software engineering teams build software, safely. We take care of security for open-source and third-party code so our customers can focus on their business: shipping features and delighting users. Headquartered in San Francisco, California, and with an office in Singapore, SourceClear is backed by Index Ventures and Storm Ventures. For more information, visit us at: https://srcclr.com.

All product and company names herein may be trademarks of their respective owners.