Snyk raises $530 Million at $8.5 Billion Valuation for Software Development Industry

Snyk is the company that develops security analysis tools for the prevention of threats for companies using open sources. It helps companies monitor and fixes potential vulnerabilities while author or consume open sources. Then, enterprises and developers can use open sources without any threats.

The recent round was led by Sands Capital Ventures and Tiger Global. Among new investors were Baillie Gifford, Koch Industries, Lone Pine Capital, T. Rowe Price, and Whale Rock Capital Management. Already participated investors list consists of Accel, Addition, Alkeon, Atlassian Ventures, BlackRock, Boldstart Ventures, Canaan Partners, Coatue, Franklin Templeton, Geodesic Capital, Salesforce Ventures, and Temasek.

Snyk was founded in 2015 by Guy Podjarny with Assaf Hefetz and Danny Grander. As of now, the CEO of the company is Peter McKay. The four main offices of the company are located in Boston, London, Tel Aviv, and Ottawa. The company has more than 400 employees in its team while aiming to increase this figure twice. Such companies as Google, BlaBlaCar, The Telegraph, SkyScanner, Asos have already worked with Snyk. Snyk also plans to make some new acquisitions.

We do believe that a portion of this money will be for inorganic expansion. We’ve made three acquisitions at this point and all three have been very, very successful for us...”, – McKay told.

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