Total amount raised
$457 Million
Latest funding date
04/01/2022
Location
Sonar has raised funding over two rounds, with the latest being a Series B round involving investors such as Permira, Insight Partners, Advent International, and General Catalyst. The company offers a suite of tools for code quality and security, including SonarQube, Advanced Security, MCP Server, and SonarSweep.
Keep reading to explore the intricacies of Sonar's fundraising journey and the investors backing this innovative platform.
What Is Sonar?
Sonar, based in Geneva, Switzerland, is a private company specializing in code quality and security solutions. The company operates in industries such as Cyber Security, Developer Tools, Open Source, and Software. It has between 501-1000 employees.
Sonar provides open-source and commercial code analyzers to help developers manage code quality. Trusted by over 7 million developers worldwide, Sonar has been a leader in static code analysis for over five years.
How Much Funding Has Sonar Raised?
- Series Unknown
- Amount Raised: USD 45,000,000
- Date: November 2016
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and expansion in the code quality and security market.
- Series B
- Amount Raised: USD 412,000,000
- Date: April 2022
- Lead Investors: Advent International, General Catalyst
- Valuation at Round: USD 4.7 billion
- Motivation Behind the Round: To expand Sonar's global go-to-market team, drive towards $1 billion in revenue, and establish a new regional headquarters in Singapore.
Total Amount Raised: USD 457,000,000. Current Valuation: USD 4.7 billion.
Key Investors
- Advent International
- Details: Advent International is a global private equity firm founded in 1984. It has invested in over 390 private equity investments across 41 countries.
- Investment Focus Areas: Technology, healthcare, financial services, industrial.
- Notable Investments: Walmart Brazil, Olaplex, McAfee.
- General Catalyst
- Details: General Catalyst is a venture capital firm that supports founders from seed to growth stage. It has offices in San Francisco, Palo Alto, New York City, London, and Boston.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Airbnb, Stripe, Snap Inc.
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm that invests in growth-stage technology and software companies. It has invested in more than 600 companies worldwide.
- Investment Focus Areas: Technology, software, internet startups.
- Notable Investments: Twitter, Shopify, Qualtrics.
- Permira’s Growth Opportunities Fund
- Details: Permira’s Growth Opportunities Fund is managed by Permira, a global investment firm that backs growth-stage companies.
- Investment Focus Areas: Technology, consumer, healthcare, financial services.
- Notable Investments: Klarna, Allegro, Genesys.
What's Next for Sonar?
Sonar is poised for significant growth, with plans to expand its global presence and double its sales force. The company aims to reach $1 billion in revenue, leveraging its strong market position and the increasing demand for clean code solutions. The opening of a new regional headquarters in Singapore will help tap into the APAC market, presenting a substantial opportunity for growth.
Future fundraising opportunities are likely as Sonar prepares for public markets, potentially leading to an IPO. The company's continuous growth and market penetration could attract further investment rounds, supporting its ambitious expansion plans. However, challenges such as scaling operations, managing a larger global team, and facing competition from other code quality platforms may arise.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay’s platform to access comprehensive fundraising data on companies like Sonar and gather other critical business insights.
Sign up for free to start exploring the wealth of information available at your fingertips.
