This morning, r2c, a startup developing a SaaS service around the open source Semgrep project, announced that it has completed a $ 27 million Series B. Felicis led the round, which the company said was a preventive deal.
Former investment firms Redpoint and Sequoia also took part in the fundraising event; r2c last raised a $ 13 million Series A in October 2020.
The startup fits in with several trends that TechCrunch has been researching over the past few quarters, including a seemingly growing number of open source (OSS) -based startups raising capital before they can even form.
Regarding OSS, r2c works with Semgrep, which the company compares to a “code-aware grep”. Still Confused? Don’t worry, it’s all a bit technical, but interesting. Grep is a decade-long tool for searching plain text. Semgrep is related but focuses on finding things within what is written …