‘Developer-first’ cybersecurity company Snyk has closed a £380m Series F investment round.
The London company is now worth more than £6 billion following the funding round, which was co-led by Sands Capital and Tiger Global.
New investors Baillie Gifford, Koch Strategic Platforms, Lone Pine Capital, T. Rowe Price and Whale Rock Capital Management also participated along with existing investors Accel, Addition, Alkeon, Atlassian Ventures, funds managed by BlackRock, Boldstart Ventures, Canaan Partners, Coatue, Franklin Templeton, Geodesic Capital, Salesforce Ventures and Temasek.
The firm, founded in 2015 by Assaf Hefetz, Danny Grander and Guy Podjarny, helps businesses to find and fix vulnerabilities in their digital infrastructure by building security into the development process.
This year alone Snyk has hired 320 employees, with projections to end the year with 800+ employees worldwide.
“This new investment, together with the rapid adoption of our platform and growing customer base, validates our developer security vision,” said CEO Peter McKay.
“When security starts with the world’s expanding pool of developers – estimated to reach 45 million by 2030 – organisations of all sizes will be able to truly reap the rewards of digital transformation, while also making the world’s software safer.”
The world’s first developer security platform is already used by millions of developers and more than 1,200 customers worldwide, including Asurion, Google, Intuit, MongoDB, New Relic, Revolut and Salesforce.
Snyk customers and users collectively have run more than 300m tests in the last 12 months and fixed more than 30m vulnerabilities in the last 90 days.
“Simply shifting left is no longer enough, and security now needs to be fully owned by developers so that they are equipped to address security issues in real time as they emerge,” said Guy Podjarny, founder and president at Snyk.
“Our approach makes security easy so that modern developers are set up for true success, securing what they build without having to become a security expert or slow down.”
Meanwhile, the company has bolstered its leadership team with the addition of chief revenue officer Dino DiMarino, who will join the company early next month.
A cybersecurity industry veteran, DiMarino most recently spent five years with NASDAQ-listed Mimecast, where he oversaw sales globally as CRO.