Tidelift Raises Additional $6.5M to Expand Its Open Source Security Manager

The company’s Series C now totals $33.5 million.

Written by Charli Renken
Published on Sep. 13, 2022
Tidelift Raises Additional $6.5M to Expand Its Open Source Security Manager
tidelift ceo donald fischer
Tidelift CEO Donald Fischer. | Image: Tidelift / Built In

Open source code makes creating software faster and cheaper than ever. However, one of the downsides to open source is that combining multiple pieces of code means there’s a larger potential for security risks. Many developers rely on pre-vetted lists of secure open source data to pull from when creating software, but making sure those lists are up-to-date and secure can be costly and time-consuming. 

Hoping to automate open source management, Tidelift announced Tuesday an extension to its $27 million Series C round, bringing this round’s total to $33.5 million. The additional capital co-led by AEI HorizonX and Cisco Investments will be used to expand Tidelift’s capabilities and market reach. 

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“Tidelift’s vision for improving open source resilience continues to be validated by the market, which is underscored by the investments of these industry leaders,” Tidelift co-founder and CEO Donald Fischer said in a statement. “We look forward to working together to bring our unique approach of managing the software supply chain — and incentivizing the people who maintain it — to new customers across a variety of industries.”

The company is currently hiring for four positions on its engineering team. More positions may open if Tidelift uses its capital to expand its go-to-market team as part of its market reach expansion.

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