Houston-based Codenotary, whose technology helps secure software supply chains, has raised $12.5 million in a series B round. Investors in the round include Swiss venture capital firm Bluwat and French venture capital firm Elaia.
The $12.5 million round follows a series A round that was announced in 2020, with total funding now at $18 million.
Codenotary, formely known as vChain, says the fresh round of money will be used to accelerate product development, and expand marketing and sales worldwide. Today, the startup has 100-plus customers, including some of the world’s largest banks.
Codenotary’s co-founders are CEO Moshe Bar and CTO Dennis Zimmer. They started the company in 2018.
Bar co-founded Qumranet, which developed the Linux KVM hypervisor. A hypervisor creates and runs virtual machines. Software provider Red Hat purchased Qumranet in 2008 for $127 million. Before that, he founded hypervisor company XenSource, which cloud computing company Citrix Systems bought in 2007 for $500 million.
“Codenotary offers a solution which allows organizations to quickly identify and track all components in their DevOps cycle and therefore restore trust and integrity in all their myriad applications,” Pascal Blum, senior partner at Bluwat, says in a news release.
The SolarWinds software supply chain hack in 2020 and the more recent emergence of Log4j vulnerabilities have brought the dangers of software lifecycle attacks to the forefront, Bar says. Now, he says, more and more companies are looking for ways to prove the legitimacy of the software that they produce.
Codenotary is the primary contributor to immudb, the an open-source, enterprise-class database with data immutability, or stability, designed to meet the demands of highly used applications.