Fossa, a San Francisco, CA-based open source management company, closed an $8.5m Series A funding.
The round was led by Bain Capital Ventures and Costanoa Ventures, with participation from Norwest Venture Partners.
The company, which has raised $11m in total funding, intends to use the funds to accelerate product development, expand enterprise features and drive overall corporate growth.
Founded in 2017 and led by Kevin Wang, CEO, Fossa is a Modern Open Source Management platform which provides component intelligence, continuous compliance, and cross-team collaboration solutions for organizations including to quickly identify and mitigate risks, improve engineering efficiency and accelerate time to market.
Fossa has over 500,000 downloads of its open source dependency analyzer from some of the most prevalent open source projects in the world such as Docker and Kafka, and several technology forward companies such as Uber, Twitter, Zendesk and Verizon Media.