Software code analysis firm Veracode on Tuesday announced the acquisition of key assets from Phylum, an early stage startup in the software supply chain space.

Financial terms of the transaction were not released.

The Burlington, Mass.-based Veracode said the deal included certain Phylum assets, including its malicious package analysis, detection, and mitigation technology. 

Phylum, based in Colorado, raised about $20 million in venture capital funding since launching in 2020 with ambitious plans to defend  applications at the perimeter of the open-source ecosystem.

Veracode said the acquisition is meant to beef up its ability to identify and block malicious code in open-source libraries and will give customers a more comprehensive view of risks associated with open-source code usage.

The company cited data showing software supply chain attacks are projected to triple in cost from $46 billion in 2023 to $138 billion by 2031 and said the addition of Phylum’s technology will help to proactively prevent attacks by identifying and blocking malicious packages and vulnerabilities in real time.

The plan is to integrate Phylum’s technology, including its malicious package database and package management firewall, into Veracode’s SCA product, with general availability expected early this year. 

The Phylum transaction is the second acquisition for Veracode in less than a year.  Last April, the company snapped up seed-stage startup Longbow Security, adding technology to help security teams to discover cloud and application assets quickly and easily assess their threat exposure.

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