Battery Ventures Announces Strategic Investment in AdaCore to Propel the Future of High Integrity Software Development
March 28 2024 - 10:57AM
Business Wire
Battery Ventures, a global, technology-focused investment firm,
today announced a significant investment in AdaCore, a leader in
providing software development tools for safety- and
security-critical systems. This strategic partnership will catalyze
AdaCore's expansion, positioning the company as the go-to source
for high-integrity, software-development tooling.
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Battery Ventures Announces Strategic
Investment in AdaCore to Propel the Future of High Integrity
Software Development (Graphic: Business Wire)
Founded three decades ago, AdaCore specializes in developing
robust software solutions that cater to industries where safety,
security, and reliability are paramount. The company's tools are
instrumental in building critical systems across aerospace,
defense, transportation, and automotive systems. Specifically,
AdaCore builds development and verification tools for the Ada,
SPARK, C/C++, and Rust programming languages, allowing customers to
use multiple languages inside one integrated development
environment.
AdaCore is known for its ability to meet diverse customer needs,
ranging from supporting off-the-shelf platforms to the very
specific hardware and software targets that are common in the high
integrity, embedded market, where code failure could result in the
loss of life, significant property damage, or dire environmental
consequences.
Leveraging Battery Ventures' investment, AdaCore will enhance
its product portfolio, developing innovative new tools and
technologies that address the evolving needs of companies pursuing
high integrity software development. The company is set to expand
its offerings in the areas of static and dynamic analysis, machine
learning, formal methods, safety certification, and
cybersecurity.
"AdaCore's longevity, and its dedication to advancing high
integrity software, impressed us tremendously, as did the key role
the company’s products play in powering critical industries," said
Morad Elhafed, general partner at Battery Ventures.
Added Robbie Payne, a veteran software executive and Battery
executive-in-residence: "We are excited to support AdaCore's
ambitious vision, driving innovation that will redefine standards
in software-development tooling for high-stakes applications.”
Payne, who was previously the CEO of smart-manufacturing solutions
company CAMBRIO, is joining AdaCore’s board of directors.
"We are at a pivotal moment in the evolution of software
development, where the demand for high integrity and secure
software has never been more critical,” said Franco Gasperoni, CEO
at AdaCore. “Our partnership with Battery Ventures is a testament
to our shared commitment to setting new benchmarks in the industry.
With this strategic investment, AdaCore is poised to expand its
technological horizons and reinforce its mission to provide
developers and enterprises with the most reliable tools and
assistance for building mission-critical systems. I am thrilled
about the opportunities that lie ahead and am confident that our
enhanced capabilities will drive innovation and elevate the state
of the art in high integrity software development."
DDA & Company (www.ddacompany.com) served as exclusive
financial advisor to AdaCore SAS on this transaction.
About AdaCore
Founded in 1994, AdaCore supplies software development and
verification tools for mission-critical, safety-critical, and
security-critical systems.
Over the years, customers have used AdaCore products to field
and maintain a wide range of critical applications in domains such
as commercial and military airborne systems, railway, space,
automotive, defense systems, air traffic management/control,
medical devices, and financial services. AdaCore has an extensive
and growing worldwide customer base; see www.adacore.com/industries
for further information.
AdaCore products are open source and come with expert online
support provided by the developers themselves. The company has
North American headquarters in New York and European headquarters
in Paris. www.adacore.com.
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Andrea Bristol +44 7887997922 bristol@adacore.com