‘Developer-first’ cyber firm Snyk closes $200m round
Posted on September 11, 2020 by Jonathan Symcox
‘Developer-first’ cybersecurity company Snyk has closed a $200m Series D investment round.
The London company is now worth $2.6bn following the funding round, which was led by Addition, and takes its total raised to $450m.
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.
“Despite one of the most challenging and unexpected years in all of our lifetimes, all of Snyk – our employees, our business partners, and our loyal customers – have come together to drive our mission forward: to modernise the security industry by empowering developers to integrate security into the complete software development lifecycle,” said CEO Peter McKay.
“This latest investment will help us to better meet the unique challenges of our time.”
In the last year, Snyk has grown revenue by 275 per cent, increased its headcount by 100% to 375 and forged partnerships with industry leaders such as Atlassian, Docker, Red Hat, Trend Micro and Rapid7.
It became a unicorn in January following its Series C funding round of more than £100m.
“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,” added McKay.
The company plans to recruit a further 100 staff in the next year.