SonarSource Ramps Up With $412M
May 9, 2022
SonarSource has raised $412 million from new and existing
investors, at a valuation of $4.7 billion. The round is led by new
investors Advent International and General Catalyst, with existing
investor Insight Partners participating. Permira’s Growth Opportunities
Fund also participated in the round.
SonarSource will use the investment to grow its go-to-market team
globally as the company drives toward $1 billion in revenue.
“SonarSource is an outstanding business that has positioned itself as a
category-defining leader in clean code, with a trusted reputation among
developers and a truly differentiated solution,” said Bryan Taylor, Head
of Advent’s Technology Investment Team and a Managing Partner in Palo
Alto. “We are thrilled to partner with Olivier and the SonarSource team
as they build a major platform within the software development
ecosystem, accelerating the rapid growth in their revenue and user
Used by more than five million developers, SonarSource’s solutions
enable enterprises to maximize the value of their software by helping
developers and development teams write high-standard code, which is free
of bugs and security vulnerabilities, and consistent across the board.
As software gets updated continuously, SonarSource ensures that only
clean code is embedded directly into the development process,
systematically improving the overall health of the code base and
meaningfully reducing tech debt. This unlocks significant resource and
time savings so developers can focus on innovating, delivering better
products and improving customer experience, thereby boosting key
“Source code is the key component of software. At SonarSource, we enable
companies to make this source code an asset rather than a liability.
This delivers huge value, especially when you know this is done as part
of the development process and requires no extra effort,” said Olivier
Gaudin, CEO and co-founder of SonarSource. “With the market recognizing
the importance of code, we have a clear path to $1 billion in revenue.
Having the right people and partners around the table will help us to
move swiftly toward that goal and prepare for public markets.”
“SonarSource has a bold vision for transforming the way organizations
build software. This vision has been clearly validated by the company’s
skyrocketing customer adoption and outstanding reputation within the
developer community,” said Deep Nishar, Managing Director, General
Catalyst. “General Catalyst is excited to support SonarSource in
broadening its impact on a global stage.”
The company will use this investment to double its sales force in 2022
and grow its marketing team across existing offices in Geneva,
Switzerland; Annecy, France; Bochum, Germany and Austin, Texas. The
investment in sales and marketing will help the company expand its reach
among the world’s 70 million software developers. In addition,
SonarSource will open a new regional headquarters in Singapore, allowing
the company to build its business within the burgeoning APAC market.
The investment comes as SonarSource continues to build rapid
momentum. Key company milestones include:
Over five million developers at more than 300,000 organizations use
SonarSource’s commercial and community products to improve their code
In the last four years, SonarSource grew its
commercial customer base by more than 2,000%.
80 Fortune 100 companies use the platform. IBM,
Microsoft, Barclays, Alphabet and NASA are among the major organizations
using SonarSource today.
“As an early investor in SonarSource, we’ve been
extremely impressed with the company’s continuing maturity and
accelerating market penetration. It comes as no surprise: enterprises
everywhere need to develop code with high standards quickly, and
SonarSource is the only solution enabling that,” said Richard Wells,
Managing Director at Insight Partners. “We’re excited to continue our
collaboration with SonarSource as the company enters a new stage in its