Software supply chain security provider NetRise has raised $10 million in a Series A funding round that brings the total amount raised by the company to nearly $25 million.
The new investment round was led by DNX Ventures, with additional support from Miramar Digital Ventures, Squadra Ventures, Sorenson Capital, and Talons Ventures.
Founded in 2020, Austin, Texas-based NetRise analyzes compiled code and firmware to provide organizations with a software asset inventory, helping them manage software supply chain risks.
According to the company, its approach to analyzing the compiled code instead of the source code ensures that it can identify risks within the software running on an enterprise’s critical systems.
NetRise’s Supply Chain Detection and Response (SCDR) platform provides a Software Bill of Materials (SBOM) covering a variety of devices, which leads to improved vulnerability detection and remediation, while also helping to ensure regulatory compliance.
The company provides continuous monitoring of an organization’s software supply chain, offering complete software composition transparency and the detection of weaponized and network-accessible risks.
“More and more, depending on vendors, software libraries, and compiled code is the norm, and hackers know it. NetRise’s focus on identifying weaknesses and vulnerabilities within compiled code brings the critical needed insight into embedded and firmware-based systems,” Talons Ventures president John Stewart said.
“Every organization understands the value of an asset inventory, this is why it is critical security control #1, yet no one has a software asset inventory, even though it is critical security control #2,” added Thomas Pace, co-founder & CEO of NetRise.
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