Snyk Raises $196.5 Million at $4.7 Billion Valuation

Snyk is a 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 authoring or consuming open sources. Then, enterprises and developers can use open sources without any threats.

Among new investors were Evolution Equity Partners, G Squared, Irving Investors, and Qatar Investment Authority. Existing investors also took part in the round – Boldstart Ventures, Sands Capital, and Tiger Global. The new money will help the company to grow both organically and via acquisitions.

Snyk, Boston, USA, was founded by Assaf Hefetz, Danny Grander, Guy Podjarny, and Jacob Tarango in 2015. 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. Since the last round, the company’s team has grown from more than 400 employees to 1200, while it was aiming at 800. Such companies as Google, BlaBlaCar, The Telegraph, SkyScanner, and Asos have already worked with Snyk. “Despite the headwinds that I think everybody sees in the market, we were able to still grow over 100% in new logos and revenue, so we’re very pleased,” Peter McKay, Snyk CEO.

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