Socket raises $60 million for its open-source security platform

As detailed in Silicon Angle, cybersecurity startup Socket Inc. has announced a $60 million Series C funding round, valuing the company at $1 billion. The investment, led by Thrive Capital with participation from Andreessen Horowitz and Capital One Ventures, brings Socket's total funding to $125 million.

Package managers, tools developers use to incorporate open-source components into software, have become a significant target for cyberattacks. Hackers inject malicious code into legitimate open-source projects, compromising developer machines. Socket's platform aims to prevent these supply chain attacks by blocking malicious packages before they are downloaded. It scans open-source modules for malware, vulnerabilities, and license restrictions, reportedly blocking over 1,000 attacks weekly.

The platform allows customization of responses to risky downloads and includes a "Monitor" feature for ongoing oversight of potentially risky components. Beyond blocking, Socket helps fix existing vulnerabilities with a scanner and a "Reachability" tool that filters non-exploitable issues, reducing false positives by up to 90%. They also offer "Certified Patches" to streamline the update process and tools to reduce transitive dependencies, aiming to enhance the security of software development pipelines.

Source: Silicon Angle