NEW YORK & PARIS, March 28,—(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 a source of high-integrity tools for software development.
Founded three decades ago, AdaCore specializes in developing robust software solutions that serve industries where safety, security and reliability are paramount. The company’s tools are critical in building critical systems in aerospace, defense, transportation and automotive systems. Specifically, AdaCore builds development and verification tools for the Ada, SPARK, C/C++, and Rust programming languages, allowing users to use multiple languages within a single integrated development environment.
AdaCore is known for its ability to meet a variety of customer needs, ranging from support for off-the-shelf platforms to very specific hardware and software targets common in the high-integrity, embedded market, where code failure can result in loss of life, significant property damage, or dire consequences for Environment.
By leveraging Battery Ventures’ investment, AdaCore will enhance its product portfolio, developing new innovative tools and technologies that address the growing needs of companies striving for high-integrity software development. The company is ready to expand its offering in the areas of static and dynamic analysis, machine learning, formal methods, security certification and cyber security.
“We are extremely impressed by AdaCore’s longevity and commitment to advancing high-integrity software, as well as the critical role the company’s products play in powering critical industries,” said Morad Elhafed, general partner at Battery Ventures.
Added Robbie Payne, veteran software executive and CEO of Battery, “We are excited to support AdaCore’s ambitious vision, driving innovation that will redefine standards in software development tools for high-stakes applications.” Payne, previously CEO of smart manufacturing solutions company CAMBRIO, joins 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 of 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 technology horizons and strengthen its mission to provide developers and businesses with the most reliable tools and assistance to build mission-critical systems. I’m thrilled opportunities ahead and I 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 in this transaction.
About AdaCore
Founded in 1994, AdaCore delivers software development and verification tools for mission-critical, safety-critical, and safety-critical systems.
Over the years, customers have used AdaCore products to deploy and maintain a wide range of critical applications in domains such as commercial and military aerospace, rail, aerospace, automotive, defense systems, air traffic management/control, medical devices and financial services. AdaCore has an extensive and growing customer base worldwide; see www.adacore.com/industries for additional information.
AdaCore products are open source and come with expert online support provided by the developers themselves. The company has its North American headquarters in New York and its European headquarters in Paris. www.adacore.com.
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