- 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. (“ActiveState”) announced today 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.
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 conflictsiv.
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.”
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.