HeroDevs, a provider of security and compliance solutions for deprecated OSS, has secured $125m in a strategic growth investment round.
The round was led by PSG, a growth equity firm focused on backing software and technology-enabled services companies. Existing investor Album also participated in the latest round.
HeroDevs specialises in securing enterprise environments that rely on outdated or unsupported OSS. Its platform, Never-Ending Support, offers secure, drop-in replacements that allow companies to continue operating legacy software safely, without requiring major application overhauls.
The fresh capital will be used to enhance HeroDevs’ Never-Ending Support solutions and protect enterprise security stacks from vulnerabilities associated with unmaintained OSS. These tools help organisations avoid costly application rewrites while reducing the risk of data breaches and cyberattacks.
In addition to product development, HeroDevs plans to allocate $20m of the new funds to its Open Source Sustainability Fund. The initiative will provide financial support to OSS developers and projects adhering to responsible end-of-life practices. Grants ranging from $2,500 to $250,000 are available, and the fund is now accepting applications through the company’s website.
This investment comes as open source software continues to dominate enterprise environments, with an average commercial codebase containing 911 OSS components. However, 86% of these codebases reportedly include components with known vulnerabilities, according to research by Black Duck. Qualys further found that nearly half of all vulnerabilities originate from unsupported OSS.
HeroDevs CEO Aaron Frost said, “In our view, open source software runs the world. Through this investment, we’re doubling down on our mission of ensuring everyone—from developers to startups to enterprises and governments—has the tools and support to stay safe and compliant, even when they find themselves stuck running end-of-life open source software.”
PSG managing director Marco Ferrari and principal Paul Russ added, “The acceleration of the adoption of open source software across enterprises highlights the growing demand for solutions that not only help companies meet strict security and compliance standards but also aim to preserve and strengthen the value of the broader open source ecosystem.”
To date, HeroDevs has donated $4m to open source projects, including $2m in 2024 alone.
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