Swiss SonarSource, a code quality management company, has announced the closing of a $45 million minority investment from Insight Venture Partners.
Richard Wells, Managing Director and Matt Gatto, Vice President at Insight will be joining the company's Board of Directors as a result of the deal.
Sonarsource will use the new capital to further accelerate growth.
"SonarSource was founded with the goal to become the world's leading solution to manage technical debt, reduce maintenance costs and operational risks, ultimately developing better software," said Olivier Gaudin, CEO of SonarSource. "Our collaboration with Insight Venture Partners allows us to benefit from their expertise and support to build a global organization, strongly accelerate the growth of our business and address our rapidly expanding market."
Richard Wells with Insight Venture Partners added in a statement, "Code quality management has become a key concern for companies who maintain ever-expanding code bases, and SonarSource has become the industry standard. We are pleased to add SonarSource to our portfolio of companies as they continue to provide enterprises and organizations with innovative solutions to manage their code base."
Read more: PR Newswire (press release)