Cybersecurity co Snyk raises $200m at $2.6b valuation

Snyk founders / Photo:  Snyk

The company has raised $450 million to date including $150 million in January.

Israeli cybersecurity company Snyk has announced that it has raised $200 million in a Series D financing round. This round was completed at a company valuation of $2.6 billion and comes after Snyk raised $150 million in January and $70 million last year. The company has raised $450 million to date including the latest financing round.

Snyk brings developer-first security to every digitally-driven organization, scaling application security to the pace of the cloud and DevOps era.

The company was founded in 2015 by Guy Podjarny, 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.

Investors in Snyk include Salesforce Ventures, Stripes, Accel, Coatue, Tiger Global, Boldstart, GV, Canaan,Trend Forward, and Amity.

Snyk has 350 employees including 85 in its Tel Aviv development center and the rest in its London headquarters and development center and New York office. Snyk says that over the past year it has doubled its workforce and seen revenue rise 275%. The company reports that it has 1.5 million users, up from 400,000 when it completed its last financing round in January.

McKay said, "This latest investment will help us to better meet the unique challenges of our time. As the pandemic fuels the dramatic acceleration of digital transformation projects globally, it’s crucial that we continue to provide very busy development teams with security intelligence, automated workflows, and visibility that will help mitigate their risks faster and more easily."

en.globes.co.il - on September 9, 2020 © Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Snyk founders / Photo:  Snyk
Snyk founders / Photo: Snyk
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