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- HeroDevs
HeroDevs Funding, Investors & Competitors
HeroDevs has raised $133M across 2 funding rounds, most recently a $125M undisclosed-stage round in July 2025.
Last HeroDevs funding round
$125M
Undisclosed stage · Jul 2025
Cumulative funding HeroDevs raised
$133M
across 2 funding rounds
Key investors in HeroDevs
Album VC
PSG Equity
About HeroDevs
HeroDevs is a US-based provider of security patches and compliance tools for legacy open-source software projects. The service targets vulnerabilities in systems like Redis and PostgreSQL, offering enterprise-grade updates without full rewrites. HeroDevs serves SaaS companies and financial institutions securing production environments. Founded in 2020, it maintains repositories on GitHub with automated testing pipelines.
Founded
2018
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
HeroDevs Funding History
HeroDevs has raised a total of $133M across 2 funding rounds.
HeroDevs' first fundraising round was a $8M seed round in May 2023. The most recent completed round was a $125M undisclosed-stage round in July 2025.
HeroDevs funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jul 2025 | Undisclosed stage | PSG Equity (lead); Album VC | $125M | HeroDevs provides security and compliance solutions for deprecated open source software (OSS), enabling enterprises to secure vulnerable, end-of-life OSS without disrupting operations. The company secured a $125 million strategic growth investment on July 24, 2025, led by PSG Equity with participation from existing investor Album VC. This funding, one of Utah's largest rounds, will enhance HeroDevs' Never-Ending Support solutions and support a $20 million Open Source Sustainability Fund for creators and projects following end-of-life best practices, with grants from $2,500 to $250,000. HeroDevs, founded in 2018 and based in Sandy, Utah, serves over 1,000 customers including one-third of the Fortune 100, has achieved year-over-year profitability, and ranked top among Utah companies on the 2024 Inc. 5000 fastest-growing list. The firm donates a portion of its revenue to OSS communities, totaling $4 million to date including $2 million in 2024. Advisors included D.A. Davidson, Ampleo, and Foley & Lardner for HeroDevs, with Weil, Gotshal & Manges for PSG. The investment addresses rising OSS vulnerabilities—86% of commercial codebases have known issues, 48% from unsupported OSS per Qualys—amid AI-driven OSS adoption. PSG highlighted HeroDevs' platform for securing applications while fostering OSS innovation. CEO Aaron Frost emphasized solving OSS funding and end-of-life visibility challenges. |
| May 2023 | Seed | Album VC (lead) | $8M | - |
Who has invested in HeroDevs?
2 investors have backed HeroDevs across its funding rounds, including Album VC and PSG Equity.
Lead investors include PSG Equity and Album VC.
HeroDevs Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
This data is available for Pro users. Sign up to see all 2 HeroDevs investors. Start Free Trial | ||||
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Start Free TrialAcquisitions by HeroDevs
HeroDevs has acquired 1 company to date.
Last acquisition by HeroDevs was on February 4th 2025. HeroDevs acquired Xeol for undisclosed valuation.
Latest Acquisitions by HeroDevs
| Description | Xeol is a software security platform scanning code to deployment for vulnerabilities and compliance risks. The tool integrates with CI/CD pipelines like GitHub Actions and Jenkins to detect open source license issues and supply chain threats. Xeol serves development teams in cloud-native environments. |
| HQ Country | |
| HQ City | New York City, NY |
| Deal Date | 4 Feb 2025 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all HeroDevs acquisitions and their M&A valuation multiples. Start Free Trial | |
HeroDevs Competitors
HeroDevs competitors include listed companies like Cloudflare, Progress Software and Palo Alto Networks, and private ones like Snyk, Anthropic and OpenAI.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $2.2B | ($25M) | $119B | 44.3x | ||
| Private | $180M | - | $7.4B | 41.1x | ||
| Publicly listed | $978M | $302M | $1.7B | 2.9x | ||
| Private | $47B | - | $965B | 20.5x | ||
| Private | $25B | - | $852B | 34.1x | ||
| Publicly listed | $11B | $1B | $307B | 25.9x |
HeroDevs Public Comps
HeroDevs is still privately-owned, but its public comps include Palo Alto Networks, CrowdStrike, IBM, Fortinet, Cloudflare, Datadog, Atlassian, Okta, Zscaler and MongoDB.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $11B | $1B | 26.7x | 25.9x | 301.1x | 76.9x | |||
| $4.8B | ($12M) | 51.4x | 44.5x | (19816.2x) | 151.0x | |||
| $68B | $17B | 4.2x | 4.0x | 16.9x | 14.6x | |||
| $6.8B | $2.3B | 18.1x | 15.9x | 53.7x | 41.9x | |||
| $2.2B | ($25M) | 54.6x | 44.3x | (4653.4x) | 185.1x | |||
| $3.4B | ($588K) | 23.6x | 19.4x | (137813.0x) | 77.6x | |||
| $6.6B | $142M | 7.4x | 7.2x | 342.1x | 23.7x | |||
| $2.9B | $245M | 10.6x | 10.0x | 126.4x | 36.4x | |||
This data is available for Pro users. Sign up to see all HeroDevs competitors and their valuation data. Start Free Trial | ||||||||
Common questions about HeroDevs
| When was HeroDevs founded? | HeroDevs was founded in 2018. |
| Where is HeroDevs headquartered? | HeroDevs is headquartered in Salt Lake City, UT, United States. |
| Is HeroDevs publicly listed? | No, HeroDevs is a private, VC-backed company. |
| How much funding has HeroDevs raised? | HeroDevs has raised $133M across 2 funding rounds. |
| What was HeroDevs' last funding round? | HeroDevs' last funding round was a $125M undisclosed-stage round in July 2025, led by PSG Equity. |
| Who are HeroDevs' investors? | HeroDevs' investors include Album VC and PSG Equity. |
| Which companies are comparable to HeroDevs? | Companies comparable to HeroDevs include Cloudflare, Snyk, Progress Software, Anthropic, OpenAI and Palo Alto Networks. |
| How many companies has HeroDevs acquired? | HeroDevs has acquired 1 company, including Xeol. |
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