Snyk Closes $ 300 Million Series E Financing; Valued at $ 4.7 billion
Snyk, a cloud-native application security company based in Boston, MA, has closed a Series E funding, totaling $ 300 million.
The transaction included both primary and secondary offerings and resulted in $ 175 million in new capital in the company.
The round was co-led by Accel and Tiger Global, with participation from existing investors Addition, Boldstart Ventures, Canaan Partners, Coatue, GV (formerly Google Ventures), Salesforce Ventures, Stripes and funds managed by BlackRock; new investors include Alkeon, Atlassian Ventures, Franklin Templeton, Geodesic Capital, Sands Capital Ventures and Temasek.
The company, which has raised a total of $ 470 million to date with a valuation of $ 4.7 billion after this round, intends to use the funds to expand its commercial reach,
Led by Peter McKay, CEO, Snyk provides a cloud native application security platform, a developer-first solution to provide security visibility and remediation for every critical component of modern applications, including code. application, open source libraries, container infrastructure, and infrastructure as code. . The security platform is based on a proprietary vulnerability database, managed by a research team of security experts, which currently powers strategic partners such as AWS, Datadog, Docker, Dynatrace, IBM Cloud, Rapid7, Red Hat and Trend Micro. The company works with global customers of all sizes to enable developers to automatically integrate security into their existing workflows.
The company also announced the hiring of Director of Marketing and Customer Experience Jeff Yoshimura, CIO Erica Geil, Vice President of Sales Asia-Pacific Japan (APJ), Shaun McLagan, and the appointment of two new board members. directors, Michael Scarpelli, CFO, Snowflake and Ping Li, partner, Accel.