We're excited to to announce that on the heels of closing $8.5 Million in Series A Funding, FOSSA has been named to the Upstart 100 List, CNBC's annual list of 100 top startups to watch!
The Upstart 100 is an exclusive collection of companies that are building brands, raising money and creating jobs on their path to becoming tomorrow’s household names. CNBC’s selection committee chose FOSSA from more than 600 nominees, scored across eight equally weighted quantitative metrics, including scalability, sales growth and workforce diversity.
“FOSSA was founded as an open source project to help developers manage open source software,” stated Kevin Wang, CEO of FOSSA. “Over the last year, we have experienced tremendous growth, raising additional funding, expanding our product to the enterprise. We are honored to be recognized as a CNBC Upstart 100 company and look forward to building off of our success in 2019 through 2020 and beyond.”
There are several benefits that make open source software attractive to the enterprise including cost, speed and flexibility, among others. However, most enterprises don’t have a formal program to ensure effective management of the various licensing, security and quality issues when utilizing open source software. And those that do, rely on a painstaking process of manual code reviews and spreadsheets. Unlike traditional offerings, FOSSA focuses on automating the workflow of open source management both within and outside of the software development lifecycle (SDLC). This enables enterprises to quickly identify and mitigate risks, improve engineering efficiency and accelerate time to market.