Fossa Raises $2.2M in Funding
Summary
Fossa, a San Francisco, CA-based open source management and license compliance tool, raised $2.2m in seed funding.The round was led by Bain Capital Ventures with participation from angel investors Salesforce Chairman and CEO Marc Benioff, YouTube CTO/Co-founder Steve Chen, Skype CTO/Co-Founder Jaan Tallinn, Cloudera CTO/Co-Founder Amr Awadallah and Tinder CMO/Co-Founder Justin Mateen.Founded by Kevin Wang, a member of Peter Thiel’s ’20 Under 20 Thiel Fellowship’ program for young entrepreneurs, Fossa provides software teams with a solution to continuously track and comply with open source licenses inside their development workflow.This allows companies to automate compliance in the background, letting developers write software in real-time without introducing layers of people and process.Fossa is now available in a public beta and is being introduced for businesses in consumer technology, enterprise software, energy, embedded devices/IoT and more.