Fossa, a San Francisco, CA-based open source management and license compliance tool, raised $2.2m in seed funding.
The round was led by Bain Capital Ventures with participation from angel investors Salesforce Chairman and CEO Marc Benioff, YouTube CTO/Co-founder Steve Chen, Skype CTO/Co-Founder Jaan Tallinn, Cloudera CTO/Co-Founder Amr Awadallah and Tinder CMO/Co-Founder Justin Mateen.
Founded by Kevin Wang, a member of Peter Thiel’s ’20 Under 20 Thiel Fellowship’ program for young entrepreneurs, Fossa provides software teams with a solution to continuously track and comply with open source licenses inside their development workflow.
The technology helps organizations understand what’s in their code and automate license tracking/compliance without slowing development. It automatically scans code to analyze license data, generates disclosures/attribution and surfaces issues all on a continuous basis. This allows companies to automate compliance in the background, letting developers write software in real-time without introducing layers of people and process.
The company also maintains the open source licensing resource tl;drLegal, which has reached over 1M developers.
Fossa is now available in a public beta and is being introduced for businesses in consumer technology, enterprise software, energy, embedded devices/IoT and more.