Geneva-based SonarSource becomes a unicorn

SonarSource, the leading platform for clean code, has raised USD 412 million from new and existing investors, bringing the scale-up’s evaluation to USD 4.7 billion.

Used by more than five million developers, SonarSource‘s solutions enable companies to maximize the value of their software by helping developers and development teams write high-standard code, which is free of bugs and security vulnerabilities, and consistent across the board.

By continuously updating its software, SonarSource ensures that only clean code is embedded directly into the development process. This unlocks significant resource and time savings so developers can focus on innovating, delivering better products and improving customer experience, thereby boosting key business metrics.

SonarSource’s latest financing round was led by new investors Advent International and General Catalyst, with existing investor Insight Partners participating. Permira‘s Growth Opportunities Fund also participated in the round.

“Source code is the key component of software. At SonarSource, we enable companies to make this source code an asset rather than a liability. This delivers huge value, especially when you know this is done as part of the development process and requires no extra effort,” said Olivier Gaudin, CEO and co-founder of SonarSource. “With the market recognizing the importance of code, we have a clear path to USD 1 billion in revenue. Having the right people and partners around the table will help us to move swiftly toward that goal and prepare for public markets.”

Global recognition and expansion

The company will use the new funds to double its sales force in 2022 and grow its marketing team across existing offices in Geneva, Annecy, Bochum and Austin. The investment in sales and marketing will help the company expand its reach among the world’s 70 million software developers. In addition, SonarSource will open new regional headquarters in Singapore, allowing the company to build its business within the burgeoning APAC market.

Since its foundation in 2008, SonarSource has continuously gained momentum. Today, over five million developers in more than 300,000 organizations use SonarSource’s commercial and community products to improve their code quality. In the last four years, SonarSource grew its commercial customer base by more than 2,000%. Last but not least, 80 Fortune 100 companies use the platform. IBM, Microsoft, Barclays, Alphabet and NASA are among the major organizations using the Geneva-based company’s platform today.