Socket Secures $40M for Software Security

Socket, a startup focused on detecting vulnerabilities in open-source code, has raised $40 million to enhance software supply chain security amidst growing concerns over cyber threats.

• Funding Details: The new round brings Socket's total funding to $65 million, with participation from notable investors like Elad Gil, Andreessen Horowitz, and Yahoo co-founder Jerry Yang.

• Founder's Vision: CEO Feross Aboukhadijeh, a veteran in open source and web security, emphasizes that traditional tools often miss significant security threats due to the extensive dependencies in modern software.

• Socket’s Solution: Socket's scanner detects malicious activity in open-source components and alerts developers during updates.

• Client Base: Socket protects more than 7,500 organizations and boasts clients like Anthropic, Figma, and one of the largest U.S. banks.

• Future Plans: The new funding will enable Socket to expand its team from 32 to 50 employees by the end of the year, focusing on engineering, product, and sales.

Aboukhadijeh views this funding round as a pivotal moment for open source, highlighting the pressing need for security in an era where AI-generated code is increasingly prevalent.