NodeSource announced news on Monday (Dec. 25) that it raised $17.5 million in venture capital to continue expansion of its open-source technology for the enterprise.
The company said in a press release that the Series B funding was led by Silicon Valley Bank, Industry Ventures and existing backers Crosslink Capital and RRE Ventures. NodeSource said it will use the funds to expand its engineering, support and go-to-market teams.
The company provides Node.js open-source technology for the enterprise. Its flagship product is N|Solid, a Node.js platform to manage enterprise apps and the security of company systems.
“Our Node.js solutions are powerful tools for enterprises that need to run mission-critical applications on JavaScript,” explained NodeSource Founder and CEO Joe McCann. “The market potential is significant, and this Series B investment from our partners at Crosslink Capital, Industry Ventures, Silicon Valley Bank and RRE Ventures further validates the strategy behind N|Solid and NodeSource Certified Modules, which is all about empowering organizations to successfully adopt, operationalize and scale Node.js to drive digital transformation initiatives.”
Security of open-source technologies is critical to the enterprise. Earlier this year, research from Black Duck in its Open Source Security and Risk Analysis report found that 96 percent of apps have some sort of open-source component to them. According to Black Duck CEO Lou Shipley, analysis “confirmed the universal use but also revealed troubling levels of ineffectiveness in addressing risks related to open-source security vulnerabilities and license compliance challenges.”
Two-thirds of apps were found to have vulnerabilities in their open-source components, Black Duck said.
“Exploits of open-source vulnerabilities are the biggest application security risk that most companies have,” Shipley stated at the time.
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