‘Developer-first’ cybersecurity company Snyk has closed a £216m Series E investment round.
The London company is now worth £3.4 billion following the funding round, which was co-led by Accel and Tiger Global and featured new investors Alkeon, Atlassian Ventures, Franklin Templeton, Geodesic Capital, Sands Capital Ventures and Temasek.
Existing investors Addition, Boldstart Ventures, Canaan Partners, Coatue, GV, Salesforce Ventures, Stripes and funds managed by BlackRock also contributed.
The company has also announced the hiring of chief marketing and customer experience officer Jeff Yoshimura, and CIO Erica Geil, alongside the appointment of two new board members: Michael Scarpelli, CFO at Snowflake, and Ping Li, partner at Accel.
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.
“Our relentless focus on the experience of the 2.2 million developers building applications of all kinds securely with Snyk has resulted in our success to date, and we believe there is an exponential, generational opportunity still in front of us,” said CEO Peter McKay.
“This latest investment allows us to accelerate our growth at every level – doubling down on our successful product led growth strategy, adding to our customer roster, recruiting talent to our team worldwide and expanding geographically.”
The cloud-native application security leader is used by 2.2m developers and has a vision to ‘empower every modern developer in the world to develop fast and stay secure’.
It became a unicorn in January 2020 following its Series C funding round of more than £100m and followed up with a Series D round of almost £150m in September.
“We first met the Snyk team at the start of their journey, as early investors,” said Ping of Accel.
“Throughout our partnership, we’ve witnessed first-hand Snyk’s unshakeable dedication to developer and security teams and their original vision become a reality.
“We’re looking forward to supporting the successes of Snyk in 2021 and beyond.”