Total amount raised
$378.5 Millions
Latest funding date
12/1/2022
Location
Snyk has successfully raised significant funding across multiple rounds, attracting a diverse group of investors. The platform specializes in developer security, offering tools to secure code, open source dependencies, containers, and infrastructure as code.
Keep reading to explore the intricacies of Snyk's fundraising journey and the investors backing this innovative platform.
What Is Snyk?
Snyk, founded in 2015, is a cloud-native application security provider headquartered in Boston, Massachusetts. The company was established by Assaf Hefetz, Danny Grander, and Guy Podjarny.
Snyk's Developer Security Platform integrates seamlessly with developers' workflows, securing all critical components of applications from code to cloud. This approach empowers developers to build secure software while enabling security teams to meet modern digital demands.
With a workforce of 1001-5000 employees, Snyk continues to innovate in the field of application security, offering tools that enhance productivity, revenue growth, and overall security posture.
How Much Funding Has Snyk Raised?
- Series B
- Amount Raised: $22M
- Date: September 2018
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and accelerate growth.
- Series B
- Amount Raised: $70M
- Date: September 2019
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Series C
- Amount Raised: $115M
- Date: January 2020
- Lead Investors: Stripes
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support global expansion and product development.
- Series D
- Amount Raised: $200M
- Date: September 2020
- Lead Investors: Addition
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance security offerings.
- Series E
- Amount Raised: $175M
- Date: March 2021
- Lead Investors: Accel, Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve product features.
- Series F
- Amount Raised: $304M
- Date: September 2021
- Lead Investors: Sands Capital Ventures, Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth and innovation in security solutions.
- Series F
- Amount Raised: $75M
- Date: September 2021
- Lead Investors: Atlassian Ventures, Salesforce Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further enhance the platform and expand strategic partnerships.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: December 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Series G
- Amount Raised: $196.5M
- Date: December 2022
- Lead Investors: Qatar Investment Authority
- Valuation at Round: $7.4 billion
- Motivation Behind the Round: To continue innovation and support enterprise DevSecOps transformation.
- Corporate Round
- Amount Raised: $25M
- Date: January 2023
- Lead Investors: ServiceNow
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To integrate security into enterprise application development.
Total Amount Raised: $1.1825 billion. Current Valuation: $7.4 billion.
Key Investors
- ServiceNow
- Details: ServiceNow is a cloud computing company that provides service management software as a service. It focuses on digital workflow solutions to help enterprises manage their IT services, operations, and business processes.
- Investment Focus Areas: Digital transformation, IT service management, enterprise software.
- Notable Investments: Known for investments in various cloud computing and enterprise software companies.
- Qatar Investment Authority
- Details: Qatar Investment Authority is a sovereign wealth fund that invests in a diverse range of asset classes. It aims to strengthen the country's economy by diversifying its investments globally.
- Investment Focus Areas: Technology, real estate, infrastructure.
- Notable Investments: Known for significant investments in various sectors, including technology companies.
- Sands Capital Ventures
- Details: Sands Capital Ventures is a venture capital firm that invests in high-growth companies. It focuses on long-term investments in innovative businesses.
- Investment Focus Areas: Technology, healthcare, consumer.
- Notable Investments: Known for investments in high-growth technology and healthcare companies.
- Accel
- Details: Accel is a venture capital firm that partners with exceptional founders to build world-class businesses. It has a global presence and a strong track record in the tech industry.
- Investment Focus Areas: Technology, internet, software.
- Notable Investments: Facebook, Dropbox, Slack.
- Tiger Global Management
- Details: Tiger Global Management is an investment firm that deploys capital globally in both public and private markets. It focuses on long-term investments in technology-driven companies.
- Investment Focus Areas: Technology, internet, software.
- Notable Investments: LinkedIn, Spotify, Stripe.
What's Next for Snyk?
Snyk's future looks promising with the strategic investment from ServiceNow, which aims to enhance enterprise DevSecOps transformation. This partnership, along with the recent $196.5 million Series G investment, positions Snyk to capitalize on the growing demand for integrated security solutions in the software development lifecycle. The integration with ServiceNow's Vulnerability Response solution could significantly expand Snyk's market reach, impacting thousands of enterprises globally.
Despite the opportunities, Snyk may face challenges such as economic conditions affecting enterprise spending and competition from other security platforms. However, the strong investor confidence and strategic partnerships suggest that Snyk is well-positioned for future growth and potential acquisitions, continuing to innovate and support secure digital transformation.
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