Sonatype Raises $11.6 Million to Transform Software Development
Silver Spring, MD
Published: September 13, 2010 08:00
Sonatype, the company that is transforming software development, today announced that it has raised $11.6 million in funding led by Accel Partners with the support of current investors Hummer Winblad Venture Partners, Morgenthaler Ventures and Bay Partners. Combined with the appointment of Wayne Jackson as the company’s CEO, this new investment will enable Sonatype to build on its formidable open source momentum, accelerating the delivery of innovative software products and cloud-based services.
Sonatype was founded by Jason Van Zyl, the original author of the Apache Maven build and project management software, and the creator of Maven Central, the primary cloud-based repository for software distribution in the open source world. The growing demand for efficiency in software development has driven an explosion in the use of Maven and Maven Central. More than 4 million Java developers use Maven, and each week Maven Central receives more than 62 million hits from 258 thousand developers in 26 thousand unique organizations (including 78 of the Global 100).
In addition to Maven and Maven Central, Sonatype is the caretaker of, or a key contributor to, other popular projects including:
- Nexus, the Java community’s most popular repository manager
- m2eclipse, the only Eclipse IDE environment optimized for Maven
- P2, the leading provisioning platform for the Eclipse IDE
“I am thrilled to have Accel lead such a strong investor syndicate. Their ability to recognize blockbusters such as Facebook combined with their experience in open source with companies including SpringSource, JBoss, XenSource and Atlassian makes them an ideal partner,” said Jackson. “This is clearly an exciting time for the company. Traditional methods for building software have proven to be risky and highly inefficient. Sonatype is perfectly positioned to deliver cost-effective software and cloud-based solutions that drive immediate value across the spectrum of software development.”
According to a 2010 Forrester Research survey, IT organizations will spend roughly 27 percent of their software budgets, nearly $70 Billion, on custom software development. When coupled with the fact that up to 40 percent of that spending is lost due to inefficiency and re-work (Carnegie Mellon study), it is clear that there is a substantial opportunity to improve the economics of software development.
This new funding will enable the company to invest in product innovation and to deliver on evolving needs of a large and growing open source user community. Sonatype’s new offerings will help developers to deliver better software faster, while improving economics and efficiency for enterprise customers.
“With the huge number of Maven users around the world, there is a real need for value-added products to streamline the software development process,” said Jason Van Zyl, Sonatype Founder and CTO. “Sonatype’s offerings increase developer productivity, improve project management and reduce business risk. The end result is that our customers can better manage projects, save money, speed delivery and ensure greater quality while leveraging proven technologies that developers already know and trust.”
New Board member Sameer Gandhi, a General Partner at Accel Partners, stated: “It is great to be working with Wayne again after our successful partnership at Sourcefire ( NASDAQ:FIRE). Wayne has a strong track record of recognizing breakthrough technology opportunities. With the current growth of Java, agile computing, and cloud services, Sonatype is uniquely positioned to build tremendous value by delivering solutions that transform software development from a cost center to a strategic business asset.”