A Salt Lake City tech company that specializes in keeping outdated software safe from hackers just landed a massive infusion of cash. HeroDevs announced it secured a $125 million strategic growth investment from private equity firm PSG, a deal aimed at expanding the company's work protecting businesses still running deprecated open-source technology.
According to a company announcement, existing investor Album also participated in the growth investment round. As reported by Dealroom, the deal closed in July 2025 and marks a significant vote of confidence in HeroDevs' niche business model: helping companies stay secure even after the software they rely on stops receiving official support.
What HeroDevs Actually Does
Founded in 2015, HeroDevs provides security and compliance solutions to help organizations manage deprecated software, according to a statement from law firm Foley, which represented the company in the deal. The Salt Lake City-based provider's core offering, called Never-Ending Support, extends coverage to widely used but aging frameworks including AngularJS, .NET and Spring.
The company says its products keep these deprecated open-source technologies secure and compliant even after their official support windows close. Per the same announcement, the goal is to give businesses the freedom to plan migrations on their own terms while staying protected against vulnerabilities and compliance risks, rather than being forced into rushed, costly overhauls the moment a framework goes out of support.
A Fund Aimed at Keeping Open Source Alive
Of the new capital, HeroDevs said it will dedicate $20 million toward an Open Source Sustainability Fund. The fund is designed to support the creators, maintainers and projects that follow end-of-life best practices, offering a financial backstop to the often-unpaid developers who keep foundational code running.
The move speaks to a broader problem in enterprise software. The company's own announcement points to data from Black Duck showing the average commercial codebase includes 911 open-source components, and that 86% of those codebases contain open-source software with known vulnerabilities. That statistic underscores why HeroDevs frames its Never-Ending Support products as providing seamless and secure replacements for vulnerable, unsupported or outdated open-source versions rather than a stopgap.
Scale and Customer Base
HeroDevs says it has earned the trust of over 800 companies, including nearly a third of the Fortune 100, giving the deal outsized relevance beyond Utah's tech scene. The company's stated pitch is straightforward: enterprises get time to plan migrations on their own schedule instead of scrambling when a vendor pulls support.
The investment adds to a growing wave of enterprise funding aimed at software security and compliance infrastructure, though the exact terms of the deal, including valuation and PSG's ownership stake, were not disclosed in the announcement.
