Cybersecurity co Snyk planning 2022 Wall Street IPO - report

Snyk founders Photo: Snyk
Snyk founders Photo: Snyk

The Israeli company will be seeking a higher valuation than the $8.5 billion in its last financing round in September, "Bloomberg" reports.

Israeli cybersecurity startup Snyk is readying for an initial public offering (IPO) and aiming for listing as soon as mid-2022, "Bloomberg" reports, according to people familiar with the matter, who asked not to be identified because the matter is private. Snyk has been speaking to banks about the IPO but plans aren’t finalized and details could still change, "Bloomberg" added.

Snyk has raised $600 million so far this year in two financing rounds of $300 million each - the first in March at a valuation of $4.7 billion and the second in September at a valuation of $8.5 billion. "Bloomberg" reports that Snyk will be targeting a market value greater than its September valuation.

A representative for Snyk declined to comment on the "Bloomberg" report.

Snyk has developed a platform that identifies security breaches and open source licensing management issues for code and takes effective action. The company was founded in 2015 by president Guy Podjarny, who in 2012 had sold Blaze, the company he has previously founded, to Akamai. Podjarny founded Snyk with Assaf Hefetz and Danny Grander - all graduates of the Israel Defense Forces 8200 intelligence unit. In July 2019, Snyk appointed Peter McKay as CEO, an investor who has been involved with Snyk since its inception and an old friend of Podjarny.

Snyk has raised over $1 billion to date, according to PitchBook. Investors include Tiger Global Management, Coatue Management, BlackRock Inc., Alphabet’s GV, Salesforce Ventures, Canaan Partners and Boldstart Ventures.

Snyk is headquartered in Boston with its development center in Tel Aviv and offices in London, Ottawa, and Zurich.

Published by Globes, Israel business news - en.globes.co.il - on December 26, 2021.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2021.

Snyk founders Photo: Snyk
Snyk founders Photo: Snyk
Yitzhak Tshuva credit: Gidon Levy and Tali Bogdanovsky Isracard shareholders approve acquisition by Delek

For the deal to go through, approval is now needed from the Supervisor of Banks and the Israel Competition Authority.

Air Canada Photo: Shutterstock Air Canada to resume Israel flights in June

The Canadian airline will resume Toronto-Tel Aviv flights on June 8 and Montreal-Tel Aviv flights in August.

NICE CEO Scott Russell credit: SAP NICE Systems falls sharply on disappointing 2025 guidance

NICE sees $693-703 million revenue in the first quarter of 2025, up 6% from the corresponding quarter of 2024, with non-GAAP earnings per share of $2.78-2.88 - 3.8% below the analysts' consensus for revenue and 2.4% below for profit.

Tel Aviv credit: Shutterstock Urban renewal plan approved in heart of Tel Aviv

The plan for the Hahashmal neighborhood opposite the Old Central Bus Station includes a 30-floor tower.

Smartshooter credit: Smartshooter Germany buys Kibbutz Yagur's Smartshooter AI sights

The product family includes systems mounted on personal rifles, remotely controlled systems, and systems carried by vehicles, robots, and even drones.

Chinese ship in Suez Canal credit: Suez Canal Authority Direct shipping to Israel could resume soon

The first shipments of vehicles are likely to reach Israel via the Suez Canal in the coming months.

Sde Dov credit: Guy Yehieli Sde Dov land prices down over 40%

Four huge tenders for almost 4,000 homes, which have been successfully marketed in the north Tel Aviv district, reflect prices over 40% lower than in 2022.

Wix president Nir Zohar credit: Alan Tzatzkin Wix provides cautious 2025 guidance after strong 2024

The Israeli website building platform company reported its first-ever GAAP operating profit in 2024.

Saar Yoskovitz and Gal Shaul  / Photo: Augury Israeli industrial AI co Augury raises $75m

The new round represents an increase in valuation for Augury, which maintains its position as a ‘unicorn’ startup.

Eitan Yochananof and Eyal Ravid credit: Eyal Izhar and Tali Bogdanovsky Regulator indicts Victory, Yochananof CEOs over price fixing

The Israel Competition Authority today issued first indictments, following the food price fixing investigation.

Shekel credit: Shutterstock Vladirina 32 Shekel gains continue as Gaza talks progress

The shekel continues to trade at its strongest levels against the dollar since early 2023.

New York credit: Shutterstock Tel Aviv - New York fares stay high despite US airlines return

Ticket prices to the US will continue to cost at least $1,200 return, according to Ophir Tours, with most fares ranging between $1,500 and $2,000, or even more.

Greenfield Partners team credit: Eyal Toueg Greenfield Partners closes $400m third fund

The funds were raised from institutional investors in Israel, the US, Europe and Asia and brings the total funds under management to more than $1 billion.

Blockaid founders Ido Ben-Natan and Raz Niv credit: Liron Weissman Israeli onchain security co Blockaid raises $50m

Blockaid protects the largest companies building onchain, including Coinbase, Metamask, Stellar, Uniswap, and World App.

Air Haifa  credit: ATR Air Haifa to launch Paphos flights

New Israeli airline Air Haifa will launch a new route between Haifa and Paphos in Cyprus on April 3, 2025 with six weekly flights.

Bladeranger Deepsolar credit: PR Bladeranger divests Deepsolar to Painreform in strategic move

Deepsolar, acquired by Bladeranger in early 2023, is a sophisticated software solution designed to optimize the management of photovoltaic solar energy fields.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018