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- Mend.io
Mend.io Funding, Investors & Competitors
Mend.io has raised $121M across 4 funding rounds, most recently a $75M Series D in April 2021.
Last Mend.io funding round
$75M
Series D · Apr 2021
Cumulative funding Mend.io raised
$121M
across 4 funding rounds
Key investors in Mend.io
M12
83North
Susquehanna Growth Equity
Pitango VC
Peregrine Ventures
Poalim Equity
Oracle Investment Management
About Mend.io
Mend.io is a Boston-headquartered provider of AI-powered application security platforms. The solution scans codebases for vulnerabilities, secures AI-generated code, and automates remediation across development pipelines. Formerly WhiteSource, Mend serves enterprises like Microsoft and Salesforce with SCA, SAST, and IaC security. Launched in its current form in 2023, it processes billions of components daily.
Founded
2011
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Mend.io Funding History
Mend.io has raised a total of $121M across 4 funding rounds.
Mend.io's first fundraising round was a $1M Series A in March 2013. The most recent completed round was a $75M Series D in April 2021.
Mend.io funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Apr 2021 | Series D | Pitango VC (lead); Poalim Equity; M12; Susquehanna Growth Equity; 83North | $75M | Mend.io (formerly WhiteSource) is a cybersecurity software company that provides dependency intelligence and security management solutions for software development. The company raised $75 million in Series D funding on March 26, 2021, led by Pitango Venture Capital alongside investors 83North, M12 (Microsoft's Venture Fund), and Susquehanna Growth Equity. This round brought Mend.io's total funding to $123.6 million across six rounds of financing, positioning the company as a significant player in the application security market. |
| Oct 2018 | Series C | Susquehanna Growth Equity (lead); M12; 83North | $35M | Mend.io (formerly WhiteSource) provides a platform for managing compliance and security of open-source software (OSS) in products, automating the OSS lifecycle from selection to remediation. The company offers an AI-native application security platform that secures AI-generated code, automates compliance, and provides risk views for developers. Susquehanna Growth Equity noted Mend.io's platform helps developers and DevOps leaders automate OSS management. Mend.io has been recognized as a leader in software composition analysis by Forrester. Customers include major enterprises, and the company emphasizes prevention-centric models for open source vulnerabilities. In October 2018, Mend.io raised $35 million in a Series C round from investors including 83North, M12 (Microsoft's venture fund), and Susquehanna Growth Equity as the lead. This followed prior rounds: Series B $10M in June 2017 and Series A $1M in February 2013. The company later raised additional funding, including an unattributed VC round and a $75M Series D in March/April 2021 led by Pitango with participation from 83North, M12, and Susquehanna Growth Equity, bringing total funding to approximately $123.6M over six rounds by 2021. |
| Jun 2017 | Series B | 83North (lead); M12 | $10M | WhiteSource (now Mend.io) is an open source security and compliance platform founded in 2011 to help enterprises manage the security and compliance risks of open source components in their software development. The company announced a Series B funding round of $10 million led by 83North in June 2017, with participation from existing investors including M12 (Microsoft Ventures) and Peregrine Ventures. By the time of its Series C announcement in October 2018, WhiteSource reported accelerated revenue growth, tripling year-over-year, reflecting rapid market adoption of its automated open source management solution. The platform serves the enterprise market, with customers including Microsoft, IBM, Comcast, and Pitney Bowes, and was recognized as the leader in the Forrester Wave Software Composition Analysis. The company expanded globally with offices in New York, Boston, and Tel Aviv, and planned additional locations in London and San Francisco. |
| Mar 2013 | Series A | Oracle Investment Management; Peregrine Ventures | $1M | - |
Who has invested in Mend.io?
7 investors have backed Mend.io across its funding rounds, including M12, 83North, Susquehanna Growth Equity, Pitango VC, Peregrine Ventures and Poalim Equity.
Lead investors include Pitango VC, Susquehanna Growth Equity and 83North.
Mend.io Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Participant | Jun 2017 | ||
| 3 | Lead | Jun 2017 | ||
| 2 | Lead | Oct 2018 | ||
| 1 | Lead | Apr 2021 | ||
| 1 | Participant | Apr 2021 | ||
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Start Free TrialAcquisitions by Mend.io
Mend.io has acquired 3 companies to date.
Last acquisition by Mend.io was on December 19th 2023. Mend.io acquired Atom Security for undisclosed valuation.
Latest Acquisitions by Mend.io
| Description | Atom Security is a cybersecurity firm headquartered in Tel Aviv, Israel. It offers managed detection services, vulnerability assessments, and cloud security postures for SMEs. Tools include endpoint protection platforms and SIEM integrations scanning for threats in AWS and Azure environments. Atom Security serves fintech and e-commerce clients with 24/7 SOC operations. | Diffend is a Prague-based platform for open-source software supply chain security. It scans dependencies for malware, vulnerabilities, and license risks using SBOM generation and real-time monitoring. Diffend serves DevOps teams at GitLab users and European banks, integrating with GitHub, Bitbucket, and Jenkins. Launched in 2021, the tool analyzes 1 million packages weekly with policy enforcement and auto-remediation workflows. | Renovate is an open-source automation tool for updating software dependencies in repositories. Integrated into platforms like GitHub, GitLab, and Bitbucket, it scans package files for outdated libraries and creates merge requests with version upgrades. Supporting over 30 ecosystems including JavaScript, Python, Java, and Docker, Renovate enforces semantic versioning and automates patch, minor, and major updates based on configurable policies. Developed by Mend.io, formerly WhiteSource, it processes millions of repositories daily and integrates with CI/CD pipelines for streamlined maintenance. Launched in 2017, the tool reduces security vulnerabilities through proactive dependency management. |
| HQ Country | |||
| HQ City | Tel Aviv | Boston, MA | New York City, NY |
| Deal Date | 19 Dec 2023 | 20 Apr 2021 | 13 Nov 2019 |
| Valuation | undisclosed | undisclosed | undisclosed |
| EV/Revenue | |||
| EV/EBITDA | |||
This data is available for Pro users. Sign up to see all Mend.io acquisitions and their M&A valuation multiples. Start Free Trial | |||
Mend.io Competitors
Mend.io competitors include listed companies like CrowdStrike and Tenable, and private ones like Safe Superintelligence, Dream Security, Forter and unico IDtech.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $32B | - | ||
| Private | $100M | - | $3B | - | ||
| Private | $200M | - | $3B | 15.0x | ||
| Private | $100M | - | $2.6B | 26.0x | ||
| Publicly listed | $4.8B | ($12M) | $252B | 44.5x | ||
| Publicly listed | $999M | $31M | $4B | 3.9x |
Mend.io Public Comps
Mend.io is still privately-owned, but its public comps include Palo Alto Networks, CrowdStrike, SAP, IBM, Salesforce, ServiceNow, Fortinet, Snowflake, Cloudflare and Adobe.
| 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 | |||
| $42B | $13B | 5.8x | 5.4x | 18.4x | 17.1x | |||
| $68B | $17B | 4.2x | 4.0x | 16.9x | 14.6x | |||
| $42B | $13B | 5.5x | 5.2x | 17.8x | 12.2x | |||
| $13B | $2.6B | 11.1x | 9.6x | 57.2x | 25.0x | |||
| $6.8B | $2.3B | 18.1x | 15.9x | 53.7x | 41.9x | |||
| $4.7B | ($1.3B) | 25.6x | 21.0x | (94.1x) | 121.7x | |||
This data is available for Pro users. Sign up to see all Mend.io competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Mend.io
| When was Mend.io founded? | Mend.io was founded in 2011. |
| Where is Mend.io headquartered? | Mend.io is headquartered in Boston, MA, United States. |
| Is Mend.io publicly listed? | No, Mend.io is a private, VC-backed company. |
| How much funding has Mend.io raised? | Mend.io has raised $121M across 4 funding rounds. |
| What was Mend.io's last funding round? | Mend.io's last funding round was a $75M Series D in April 2021, led by Pitango VC. |
| Who are Mend.io's investors? | Mend.io's investors include M12, 83North, Susquehanna Growth Equity, Pitango VC, Poalim Equity, Oracle Investment Management and Peregrine Ventures. |
| Which companies are comparable to Mend.io? | Companies comparable to Mend.io include Safe Superintelligence, Dream Security, Forter, unico IDtech, CrowdStrike and Tenable. |
| How many companies has Mend.io acquired? | Mend.io has acquired 3 companies, including Atom Security, Diffend and Renovate. |
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