Lineaje, a software supply chain management firm, has secured a $20 million investment to elevate its artificial intelligence functionalities and bolster security.
According to Silicon Angle, the company is rapidly advancing the security management of software supply chains critical to numerous industries.
The Series A round was spearheaded by Prosperity7 Ventures, Neotribe Ventures, and Hitachi Ltd. Additional contributions came from a variety of investors including Tenable Ventures Inc., Carahsoft Technology Corp., Wipro Ventures, SecureOctane, Alumni Ventures Group, and executives from notable technology firms such as ZScaler Inc., CrowdStrike Holdings Inc., and Trellix Inc.
Lineaje’s core business revolves around offering robust security management solutions for software supply chains. Its technology provides a detailed mapping of software components, exposing each element’s dependencies and authenticating the entire chain to prevent compromises. This is becoming increasingly important as the industry faces mounting risks from sophisticated cyber threats.
The newly acquired funds are earmarked for several strategic initiatives. Key among them is the advancement of Lineaje’s AI capabilities, which are central to its strategy to reduce costs associated with maintaining enterprise software while increasing security. This move is expected to significantly enhance the transparency and security of open-source software components across the board.
Recent research conducted by Lineaje highlights a startling discovery of an average of 250 “pre-tampered components” in every application, underscoring the critical need for enhanced security measures. The company also offers solutions like SBOM360, a software bill of materials manager, and Open Source Manager, which improve oversight and management of software assets.
Lineaje CEO Javed Hasan remarked on the importance of the funding: “This funding marks a pivotal moment for Lineaje as we spearhead the global transformation in software supply chain security and management,” emphasising the potential impact of AI in revolutionising software security. He added that the focus of the new funding would be to “deliver known, secure open-source software to organizations, dramatically reducing enterprise software maintenance investments.”
Previously, in August 2023, Lineaje was in the spotlight for introducing “BomBots,” AI-based automation tools that address critical software maintenance and security challenges by making “intelligent recommendations” for developers and security analysts.
Keep up with all the latest FinTech news here.
Copyright © 2024 FinTech Global
Copyright © 2018 RegTech Analyst
