Total amount raised
$457 Millions
Latest funding date
04/01/2022
Location
Sonar has successfully raised funds through multiple rounds, with its latest being a Series B round closed on April 26, 2022. The company has garnered support from prominent investors, including Permira and Insight Partners.
Sonar's platform is dedicated to enhancing code quality and security, offering tools like SonarQube, SonarCloud, and SonarLint. Keep reading to explore the intricacies of Sonar's fundraising journey and the investors backing this innovative platform.
What Is Sonar?
Founded in November 2008, Sonar is a prominent player in the software development tools industry, specializing in code quality and security. The company is headquartered in Geneva, Switzerland, and was established by Freddy Mallet, Olivier Gaudin, and Simon Brandhof.
Sonar has grown significantly, now employing between 501 and 1000 people. The company offers a suite of products, including SonarQube, SonarCloud, and SonarLint, which are used by over 700 customers and more than 80,000 organizations worldwide to manage and improve code quality.
How Much Funding Has Sonar Raised?
- Series B
- Amount Raised: $412M
- Date: April 2022
- Lead Investors: Advent International, General Catalyst
- Valuation at Round: $4.7 billion
- Motivation Behind the Round: To expand Sonar's global presence, double the sales force, grow the marketing team, and open a new regional headquarters in Singapore.
- Venture Round
- Amount Raised: $45M
- Date: November 2016
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and development in the code quality and security market.
Total Amount Raised: $457M. Current Valuation: $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: Business and financial services, healthcare, industrial, retail, consumer, and leisure.
- 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, financial services, 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 manages over $90 billion in assets.
- Investment Focus Areas: Software, internet, data services.
- 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, 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 open a new regional headquarters in Singapore, tapping into the lucrative APAC market. This expansion is expected to drive Sonar towards its ambitious goal of reaching $1 billion in revenue.
Future fundraising opportunities are likely as Sonar prepares for public markets, potentially leading to an IPO. The continued support from major investors like Advent International and General Catalyst suggests a strong financial backing for future growth stages.
However, Sonar may face challenges such as scaling operations while maintaining quality, competition from other code quality solutions, and navigating different market dynamics. Despite these hurdles, the company's focus on clean code and code security positions it well to capitalize on industry trends and growth opportunities.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like Sonar and gather other critical business insights. Sign up for free to start transforming your sales strategy today.
