# Black Duck Software

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/black-duck-software

- Industry: Software
- Headquarters: Burlington, US
- Website: www.blackducksoftware.com
- Total disclosed funding: $64M
- Latest round: Series E (Sep 3, 2014)
- Investors on record: 10

## About

Black Duck Software, Inc. specializes in application security solutions, providing organizations with tools for vulnerability management and compliance in software development.Founded in 2003 and headquartered in Burlington, US, Black Duck Software, Inc. offers solutions for application security. The company has undergone a significant transition with its acquisition by Synopsys, Inc. in December 2017 for approximately USD 565 mn. The firm has completed a total of 14 deals, with the most recent deal dated November 2, 2017.Black Duck specializes in providing comprehensive application security software solutions tailored for the modern software landscape. Their flagship offering, the Black Duck Polaris™ platform, integrates various security testing tools that facilitate seamless vulnerability detection and management across the software development lifecycle (SDLC). This platform enables organizations to automate security scans for both individual applications and extensive codebases, ensuring compliance with open source licensing and security standards. Black Duck's solutions are designed to help businesses build trust in their software, significantly reducing risks associated with open source vulnerabilities and enhancing overall product quality. The company's products cater to a diverse client base that includes enterprises in sectors such as automotive, financial services, IoT, and medical devices, serving customers across North America, Europe, and Asia-Pacific regions.Black Duck's revenue model primarily revolves around subscription-based services, which provide clients with access to their suite of application security tools and resources. Clients typically engage with the company through annual contracts, encompassing access to the Black Duck Polaris™ platform along with various security testing services, such as Static Analysis (SAST) and Software Composition Analysis (SCA). These transactions are structured to facilitate a continuous flow of services, allowing clients to benefit from ongoing security assessments and updates. The pricing plans are tiered and designed to accommodate a range of client needs, from small businesses to large enterprises, ensuring that organizations can select the right level of service based on their specific security requirements. This transactional structure supports a stable revenue stream, driven by long-term partnerships with a diverse clientele that values robust security solutions in their software development processes.With the recent acquisition by Synopsys, Inc., Black Duck Software, Inc. is positioned to enhance its product offerings and expand into new markets. Future growth initiatives include the development of new features for the Black Duck Polaris™ platform, aimed at improving security capabilities and compliance assistance, although specific product release dates are not disclosed. Additionally, there are plans to target expansion in Europe and Asia-Pacific regions by the end of 2023, leveraging the resources and expertise of Synopsys to facilitate this growth. The funding from the Trade Sale will be utilized to support these initiatives and enhance Black Duck's market position.

## Funding rounds

- Series E, Sep 3, 2014, $20M — Flagship Pioneering, Focus Ventures, General Catalyst Partners, Intel Capital, Split Rock Partners, Sapphire Ventures, Volition Capital, Red Hat, Inc.
- Series E, Sep 30, 2011, $12M — Flagship Pioneering, Focus Ventures, General Catalyst Partners, Intel Capital, Split Rock Partners, Eight Roads Ventures, Sapphire Ventures, Red Hat, Inc.
- Series D, Nov 26, 2008, $3M — Sapphire Ventures, Fidelity Investments
- Series C, Feb 8, 2007, $12M — Flagship Pioneering, Focus Ventures, General Catalyst Partners, Intel Capital, Eight Roads Ventures, Sapphire Ventures
- Series B, Apr 19, 2005, $12M — Flagship Pioneering, General Catalyst Partners, Intel Capital, Eight Roads Ventures, Sapphire Ventures, Red Hat, Inc.
- Series A, Jul 26, 2004, $5M — Flagship Pioneering, General Catalyst Partners

## Investors

- Flagship Pioneering (https://capitalatlas.ai/funds/flagship-pioneering) — Series A, Series B, Series C, Series E
- General Catalyst Partners (https://capitalatlas.ai/funds/general-catalyst-partners) — Series A, Series B, Series C, Series E
- Intel Capital (https://capitalatlas.ai/funds/intel-capital) — Series B, Series C, Series E
- Eight Roads Ventures (https://capitalatlas.ai/funds/eight-roads-ventures) — Series B, Series C, Series E
- Sapphire Ventures (https://capitalatlas.ai/funds/sapphire-ventures) — Series B, Series C, Series D, Series E
- Red Hat, Inc. — Series B, Series E
- Focus Ventures (https://capitalatlas.ai/funds/focus-ventures) — Series C, Series E
- Fidelity Investments (https://capitalatlas.ai/funds/fidelity-investments) — Series D
- Split Rock Partners (https://capitalatlas.ai/funds/split-rock-partners) — Series E
- Volition Capital (https://capitalatlas.ai/funds/volition-capital) — Series E