AdaCore receives significant investment from Battery Ventures to boost expansion in high-integrity software development
In a significant move for the software development industry, Battery Ventures, a leading global technology-focused investment firm, has announced a substantial investment in AdaCore. This investment is set to catalyze AdaCore’s growth, positioning the company as the premier source for high-integrity software development tools. AdaCore, with its three decades of experience, is renowned for its robust software solutions that are critical in industries where safety, security, and reliability are of utmost importance.
AdaCore’s specialty lies in creating development and verification tools for programming languages such as Ada, SPARK, C/C++, and Rust. This allows for a versatile development environment that caters to the stringent requirements of aerospace, defense, transportation, and automotive industries. The partnership with Battery Ventures will enable AdaCore to further innovate and expand its product offerings, focusing on areas like static and dynamic analysis, machine learning, formal methods, safety certification, and cybersecurity.
“AdaCore’s longevity and dedication to advancing high integrity software were key factors that impressed us. The critical role the company’s products play in powering essential industries cannot be overstated,” said Morad Elhafed, general partner at Battery Ventures. Robbie Payne, a seasoned software executive and Battery executive-in-residence, who is joining AdaCore’s board of directors, expressed excitement about supporting AdaCore’s vision to drive innovation in high-stakes software development.
Franco Gasperoni, CEO at AdaCore, highlighted the pivotal moment in software development’s evolution, emphasizing the critical demand for high integrity and secure software. “Our partnership with Battery Ventures reflects our mutual commitment to setting new benchmarks in the industry. This strategic investment will expand our technological capabilities and reinforce our mission to provide developers and enterprises with the most reliable tools and assistance for building mission-critical systems,” Gasperoni stated.
DDA & Company served as the exclusive financial advisor to AdaCore SAS on this transaction, marking a milestone in the company’s journey towards setting new standards in software development for safety- and security-critical systems.
This strategic investment by Battery Ventures in AdaCore marks a significant step towards innovation in the field of high-integrity software development. As the industry continues to evolve, the demand for robust, reliable, and secure software solutions becomes increasingly crucial. AdaCore’s commitment to excellence and its focus on expanding its product range to meet the future needs of high integrity software development places the company in a unique position to lead the market.