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

Mend.io Overview

About Mend.io

Mend.io, founded in 2011 as WhiteSource, provides an application-security platform for software-development organizations. The Boston- and Tel Aviv-based company began with software composition analysis that identifies vulnerable or noncompliant open-source components and helps developers prioritize and remediate risk. It expanded into software-supply-chain security and static application security testing for proprietary source code, bringing open-source and custom-code analysis into developer and DevOps workflows. Mend sells subscription software to enterprises and technology teams that need vulnerability detection, license-compliance controls, automated remediation and governance across the software-development lifecycle. Its products are designed to integrate with repositories, build pipelines and issue-tracking environments so security checks occur while code is created. WhiteSource acquired Diffend in 2021 and Xanitizer and DefenseCode in 2022, then adopted the Mend.io name to reflect its broader remediation-centered application-security strategy. Atom Security became another acquired component of that platform in 2023.


Founded

2011

HQ

United StatesBoston, MA

Website

mend.io

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

Mend.io funding rounds
DateStageInvestorsRaisedDeal Summary
Apr 2021Series DPitango VC (lead); Poalim Equity; M12; Susquehanna Growth Equity; 83North$75MMend.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 2018Series CSusquehanna Growth Equity (lead); M12; 83North$35MMend.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 2017Series B83North (lead); M12$10MWhiteSource (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 2013Series AOracle 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

Investors in Mend.io by funding rounds participated
InvestorHQRoundsRoleFirst check
M12United StatesUnited States3ParticipantJun 2017
83NorthUnited KingdomLondon3LeadJun 2017
Susquehanna Growth EquityUnited StatesPhiladelphia, PA2LeadOct 2018
Pitango VCIsraelHerzliya1LeadApr 2021
Poalim EquityIsraelTel Aviv1ParticipantApr 2021

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Acquisitions by Mend.io

Mend.io has acquired 5 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

Atom Security
Xanitizer
DefenseCode
Diffend
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.
Xanitizer was a German application-security software business developed and sold by RIGS IT GmbH. Its commercial static application security testing product inspected source code, configuration files and web templates for exploitable weaknesses before software reached production. The analyzer supported languages and frameworks used in Java, Scala, JavaScript and TypeScript applications and applied data-flow and taint analysis to trace untrusted inputs to dangerous operations. Development and security teams could use the graphical interface or automate scans through command-line, build-system and continuous-integration integrations, including Jenkins, Ant, Maven, Gradle and SonarQube workflows. Xanitizer combined its proprietary findings with established open-source analysis components and provided visual explanations and remediation guidance. It sold primarily to enterprises and security teams seeking accurate vulnerability detection with fewer false positives. WhiteSource acquired the business and integrated its technology and engineers into a new static application security testing organization in 2022.
DefenseCode was a Zagreb-based application-security software company founded in 2010 by security researcher and programmer Leon Juranić. It developed enterprise tools for finding vulnerabilities in web, desktop and mobile applications through static and dynamic security testing. Its best-known product, ThunderScan, analyzed application source code across multiple programming languages and produced actionable findings intended for security reviews and development workflows. The company also developed WebStrike for black-box and dynamic application testing. DefenseCode served organizations in Europe and North America and distributed its technology through security-service and software-channel relationships. Its tools helped customers identify weaknesses such as injection paths and other exploitable coding flaws before release, supporting secure-development and DevSecOps programs. WhiteSource acquired DefenseCode in early 2022 and placed its technology and team within a new static application security testing engineering group. The acquired Croatian legal entity subsequently became owned by WhiteSource Zagreb.
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.
HQ CountryIsraelGermanyCroatiaUnited States
HQ City
Tel Aviv
Potsdam
Zagreb
Boston, MA
Deal Date19 Dec 202315 Feb 202215 Feb 202220 Apr 2021
Valuationundisclosedundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Mend.io Competitors

Mend.io competitors include listed companies like IBM and CrowdStrike, and private ones like Safe Superintelligence, Socure, Dream Security and Forter.

Public and private companies comparable to Mend.io
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Safe SuperintelligenceUnited StatesSan Francisco, CAPrivate--$32B-
SocureUnited StatesLake Tahoe, NVPrivate$315M-$5.2B-
Dream SecurityIsraelTel AvivPrivate$100M-$3B-
ForterUnited StatesNew York City, NYPrivate$200M-$3B15.0x
IBMUnited StatesUnited StatesPublicly listed$68B$17B$232B4.1x
CrowdStrikeUnited StatesUnited StatesPublicly listed$4.8B($12M)$222B38.0x

Mend.io Public Comps

Mend.io is still privately-owned, but its public comps include SAP, Palo Alto Networks, IBM, CrowdStrike, Salesforce, ServiceNow, Snowflake, Cloudflare, Adobe and Fortinet.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
SAP$41B$13B6.6x6.1x20.9x19.0x
Palo Alto Networks$11B$1B22.3x21.0x252.0x63.6x
IBM$68B$17B4.3x4.1x17.3x14.5x
CrowdStrike$4.8B($12M)45.3x38.0x(17454.4x)127.1x
Salesforce$42B$13B5.0x4.6x15.9x10.8x
ServiceNow$13B$2.6B8.3x6.9x42.6x17.8x
Snowflake$4.7B($1.3B)20.9x16.4x(76.7x)93.1x
Cloudflare$2.2B($25M)44.2x33.7x(3772.9x)140.3x

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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, Socure, Dream Security, Forter, IBM and CrowdStrike.
How many companies has Mend.io acquired?Mend.io has acquired 5 companies, including Atom Security, Xanitizer, DefenseCode, Diffend and Renovate.

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