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HeroDevs secures $125 million in strategic growth funding from PSG and Album to expand its security and compliance solutions for deprecated open source software. The company will allocate $20 million to support OSS maintainers through its newly launched Open Source Sustainability Fund. Its Never-Ending Support model helps over 800 clients, including major enterprises, protect legacy systems without requiring full migrations.
$125 Million Deal Puts HeroDevs in the Spotlight
HeroDevs has secured a $125 million strategic growth investment led by PSG, with continued support from existing investor Album. The company announced the raise on July 24, 2025, noting that the funding marks one of the largest investment rounds in Utah this year. HeroDevs specializes in security and compliance solutions for deprecated open source software (OSS), with its services centered around enabling organizations to maintain support for critical but outdated codebases. PSG, a growth equity firm with offices in North America and Europe, backs software and technology-enabled services companies through periods of accelerated growth.
The Security Crisis in Open Source Software Gets Urgent Attention
Open source software now dominates enterprise environments, but much of it includes vulnerable or unmaintained components. Data from Black Duck indicates that the average commercial codebase contains 911 OSS components, and 86% of those include known vulnerabilities. A report from Qualys highlights that 48% of vulnerabilities originate from OSS that is no longer supported or maintained. These gaps expose enterprises to risks that include compliance violations, data breaches, and operational disruptions.
Never-Ending Support: HeroDevs’ Answer to a Silent Epidemic
HeroDevs provides Never-Ending Support (NES), a framework that delivers secure replacements for deprecated OSS. NES allows enterprises to secure their infrastructure without having to refactor or rebuild entire applications. This includes legacy technologies like AngularJS, Spring, .NET, and others. HeroDevs addresses the risks tied to unsupported software by offering proactive vulnerability remediation and long-term compliance support. The company emphasizes flexibility for technical teams by enabling secure transitions without disrupting ongoing operations.
$20 Million Goes Straight to Open Source Maintainers
HeroDevs has allocated $20 million from the investment to create the Open Source Sustainability Fund. The fund supports creators, maintainers, and projects that responsibly handle OSS end-of-life transitions. Funding amounts range from $2,500 to $250,000 per application. To qualify, applicants must:
- Show strong community adoption
- Commit to open and secure end-of-life practices
- Meet the fund’s eligibility and compliance requirements
HeroDevs has already donated $4 million to open source initiatives, including $2 million in 2024. The new fund expands this support significantly and is now accepting applications.
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Enterprises, Developers, and Governments All Stand to Gain
HeroDevs currently supports over 800 companies, including nearly one-third of the Fortune 100. Its services are focused on sectors where uptime and data protection are non-negotiable, including finance, healthcare, and government. By continuing to support OSS post-end-of-life, the company helps its clients meet regulatory standards and mitigate the costs associated with full system migrations. The NES model enables decision-makers to avoid technical debt without compromising on security.
Backing from PSG Signals Confidence in Open Source Security
PSG’s investment follows a clear trend in enterprise software needs: stable, secure support for critical yet outdated code. Marco Ferrari, Managing Director and Co-Head of North America at PSG, and Paul Russ, Principal at PSG, emphasized that HeroDevs offers a platform that supports compliance and security without forcing companies to overhaul their infrastructure. PSG cited HeroDevs’ ability to secure software components without interrupting business continuity, while contributing to the broader open source community.
Strategic Investment Aims to Redefine OSS Lifecycle Support
HeroDevs CEO Aaron Frost said the investment is a direct reinforcement of the company’s mission to support developers, startups, enterprises, and governments facing challenges with deprecated OSS. He noted that the company’s services have helped clients avoid thousands of hours in technical effort and significant financial losses due to security incidents. Frost also stated that HeroDevs will use the capital to fund future open source development and bring greater visibility to the risks associated with unsupported OSS.
The company continues to build on a business model that integrates funding and security maintenance for OSS while allowing clients to choose their own upgrade timelines.
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