Socket secures $60M Series C funding, reaches $1B valuation

Socket, a California-based supply chain protection provider, has raised $60 million in a Series C funding round, reaching a total of $125 million and a valuation of $1 billion. Founded in 2020, Socket's platform utilizes AI-assisted analysis to identify malicious behavior in open source dependencies, addressing supply chain risks. The funding will enhance the Socket Firewall, expand coverage to more areas including browser and code editor extensions, and support new product development and team growth.

The CEO highlighted the necessity of maintaining visibility in software development amidst increasing speeds and reliance on external code.