Sonatype’s acquisition by Vista Equity Partners in 2019 symbolized a major step forward for the company. In 2022, it announced it would be pursuing an IPO in the wake of massive growth in the workforce and a milestone of $100 million in annual recurring revenue.

With competitors such as Snyk announcing IPO in 2022 as well, Sonatype’s decision exemplifies how large the demand for supply chain management tools is for the market. Though it has much competition, Sonatype has more than a decade-long track record which should put it in a great position to continue its progress, as well as more recent industry recognition.