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.
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.