ActiveState Raises Strategic Investment to Accelerate Its Vision for Modern Security-First Software Development

• ActiveState is a leading provider of open source language distributions for enterprises
• Turn/River Capital to provide a strategic investment as well as SaaS go-to-market expertise
• The investment will accelerate development and marketing of the ActiveState Platform

ActiveState Software Inc. announced that it has secured a strategic investment from Turn/River Capital, a leading technology-focused growth equity firm. The investment will accelerate product development and market expansion for ActiveState’s unique software dependency, build, and risk management platform.

“We are thrilled to make this strategic investment, as well as provide go-to-market expertise, to help the team execute on their vision for making open source software ubiquitous and secure for enterprise users,” said Dominic Ang, Turn/River Founder.

Enterprise use of open source is pervasiveⁱ, strategicⁱⁱ, and growing rapidlyⁱⁱⁱ. While open source is a boon for enterprises, its decentralized nature places a heavy burden on development, security, and compliance teams. In a recent audit of over 1200 commercial codebases, 75% had security vulnerabilities and 67% had licensing conflicts^iv.

Recommended AI News: UnitedLex Integrates Microsoft Cloud to Globally Scale Digital Transformation of Legal Services

The ActiveState Platform helps enterprises reduce risk, improve security, and manage compliance by identifying vulnerabilities and other issues in third-party code both before and after the code is adopted. Unlike other solutions that deal with these issues after-the-fact, ActiveState’s solution is integrated into the development workflow from the beginning. The Platform includes the proactive security resolution and advanced build, package, and policy management features needed for modern software development.

“We’re thrilled to join with Turn/River,” said Bart Copeland, ActiveState CEO, “Their unique model, deep expertise, and, most importantly, their exceptional fit with our culture bring us even closer to realizing our vision for modern software development with the ActiveState Platform.”

Recommended AI News: Realio Issues First Hybrid Equity Token to Power Its DeFi Ecosystem of Real-World Assets

Dominic Ang, Turn/River Founder and Managing Partner, continued, “ActiveState makes it possible for enterprise customers to harness the power of open source software in a way that meets all of their development, security, and compliance needs. We are thrilled to make this strategic investment, as well as provide go-to-market expertise, to help the team execute on their vision for making open source software ubiquitous and secure for enterprise users.”

ActiveState was advised by legal counsel McCarthy Tétrault LLP. Turn/River Capital was advised on its investment by Orrick, Herrington & Sutcliffe LLP.

Recommended AI News: AMAX Accelerates Next-Gen AI Computing With NVIDIA A100 GPU Test Drive Program