Lineaje Secures $20M to Enhance Protection Against Software Supply Chain Threats

Lineaje, a cybersecurity startup focused on fortifying the software supply chain, has raised $20 million in Series A funding. The funding round aims to enhance their platform designed to detect and mitigate threats from third-party vendors and open source software within an organization's tech stack.

A recent report by the Ponemon Institute revealed that over half of organizations have faced software supply chain attacks, with 54% experiencing such attacks in the past year alone. These attacks, which target third-party services or open source software, can cause significant financial damage. Juniper Research predicts that supply chain cyberattacks could cost the global economy nearly $81 billion in lost revenue and damages by 2026.

Recognizing the severity of this issue, the White House has declared software supply chain security a national security concern and has issued an executive order to establish mitigation standards.

Founded in 2021 by Javed Hasan and Anand Revashetti, Lineaje aims to combat these threats with its innovative platform. Lineaje’s tools identify tampered software and outdated, vulnerable open source components within an organization’s supply chain. Upon detecting potential vulnerabilities, the platform recommends fixes and advises against those that might compromise the software.

“For organizations concerned about the risks their software poses to both themselves and their customers, managing this risk is crucial,” said Hasan, Lineaje’s CEO. “Lineaje was created to discover, manage, and secure software, regardless of where it is developed.”

Both Hasan and Revashetti bring extensive cybersecurity experience to Lineaje, having worked with industry leaders such as Symantec, McAfee, and Norton. They met at McAfee, where Revashetti served as a fellow and chief architect.

“The frequency and severity of software supply chain attacks have been on the rise,” Hasan added. “It is evident that supply chain security is a top priority for CISOs and the U.S. government.”