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Developer Security Firm Snyk Raises $200 Million at $2.6 Billion Valuation

Boston-based developer security company Snyk on Wednesday announced that it has raised $200 million in a Series D funding round, valuing the firm at more than $2.6 billion.

The latest funding round, which brings the total raised by Snyk to $450 million, was led by Addition, with participation from previous investors Accel, Amity, Boldstart, Canaan, Coatue, GV, Salesforce Ventures, Stripes, Tiger Global and Trend Forward.

Snyk earned unicorn status in January 2020, after it raised $150 million in a Series C funding round.

The company says it plans on using the latest funding to “accelerate its vision for a comprehensive developer-first security solution.”

Snyk claims it has recorded revenue growth of over 275% and 100% employee growth this year. Its customers include Google, Salesforce, Revolut, Attlassian, Red Hat, Docker, Rapid7 and Trend Micro.

Snyk provides solutions that help organizations find and fix security issues in open source software, container images and Kubernetes applications, and infrastructure.

“Snyk's impressive growth is a signal that the market is ready to embrace a change from traditional security and empower developers to tackle the new security risk that comes with a software-driven digital world,” said Lee Fixel, founder of Addition.

“During a time of uncertainty, Snyk has continued to invest in its expanding product line to ensure developers have the right tools in place to address these modern security challenges. We are excited to partner with Snyk as the business continues to seize this large market opportunity,” he added.

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Eduard Kovacs (@EduardKovacs) is a contributing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.