Sonatype, a company that helps companies build more secure software, will be announcing an $80 million funding round led by TPG.

Why it matters: The Equifax breach occurred with a known vulnerable component. Sonatype's aim is to help companies choose more secure components — and know when the components they use have new vulnerabilities so they can patch them.

Sonatype’s other goal is to help companies more take advantage of open source code.

Driving the investment: Sonatype CEO Wayne Jackson said he's been in talks with TPG for "well over a year," but wasn't willing to accept the dilution that accompanies such a large investment until now.

  • “While the use of open source continues to grow exponentially, its ungoverned use presents significant security risks, as evidenced by last year’s breach at Equifax,” said Art Heidrich of TPG said in a statement.

The details: The round is the largest in volume ever for the firm and surpasses the combined funds the firm previously raised since the firm was founded in 2008, per CrunchBase.

  • The investment round will back additional R&D investments, sales, marketing, and strategic objectives, including expanding Sonatype’s Nexus platform offerings.
  • Existing investors participated in the new round, including Accel, Goldman Sachs Group, and Hummer Winblad. Barclay’s is acting as financial advisor.

Go deeper

13 hours ago - Health

15 states broke single-day coronavirus records this week

Data: Compiled from state health departments by Axios; Map: Danielle Alberti/Axios

At least 15 states broke their single-day novel coronavirus infection records this week, according to state health department data reviewed by Axios.

The big picture: The number of coronavirus cases increased in the vast majority of states over the last week, and decreased in only two states plus the District of Columbia, Axios' Andrew Withershoop and Caitlin Owens report.

Updated 13 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 3 p.m. ET: 11,143,945 — Total deaths: 527,681 — Total recoveries — 6,004,593Map.
  2. U.S.: Total confirmed cases as of 3 p.m. ET: 2,818,588 — Total deaths: 129,584 — Total recoveries: 883,561 — Total tested: 34,213,497Map.
  3. States: Photos of America's pandemic July 4 ICU beds in Arizona's hot spot reach near capacity.
  4. Public health: U.S. coronavirus infections hit record highs for 3 straight days.
  5. Politics: Trump extends PPP application deadlineKimberly Guilfoyle tests positive.
  6. World: Mexican leaders call for tighter border control as infections rise in U.S.
  7. Sports: 31 MLB players test positive as workouts resume.
  8. 1 📽 thing: Drive-in movie theaters are making a comeback.
14 hours ago - Health

In photos: America celebrates July 4 during global pandemic

Photo: Francine Orr/Los Angeles Times/Getty Images

The U.S. has already celebrated Easter, graduations and so much more during the coronavirus pandemic, and now it can add July 4 to the list.

The state of play: Axios' Stef Kight writes public parades and fireworks displays around much of the country are being canceled to prevent mass gatherings where the virus could spread. Hot-dog contests and concerts will play to empty stands and virtual audiences — all while American pride treads an all-time low.