Boston-based developer security firm Snyk on Monday announced that it has raised $196.5 million in a Series G funding round, at a $7.4 billion valuation. To date, the company has raised over $1 billion.
The investment round was led by QIA (Qatar Investment Authority), with participation from Boldstart Ventures, Evolution Equity Partners, G Squared, Irving Investors, Sands Capital, and Tiger Global.
Founded in 2015, Snyk provides organizations with a platform that can be integrated into development tools, automation pipelines, and workflows to find and fix security defects in open source software, containers, and infrastructure as code.
Snyk says it helps over 2,300 customers secure the critical components of their applications and increase productivity and revenue. The company claims it has helped remediate more than 11.5 million security issues in 2022 alone.
Snyk plans to use the new funding to drive product innovation and expand its Developer Security Platform, including via strategic acquisitions.
“In 2022, I’m proud that Snyk achieved a 100% year-over-year increase in revenue as well as net revenue retention of over 130%. In 2023, we look forward to leveraging this latest investment to continue enhancing our platform and help more global enterprises reap the benefits of DevSecOps,” Snyk CEO Peter McKay said.
Snyk became a cybersecurity unicorn in January 2020, with $250 million raised at the time.
Related: Interpres Security Emerges From Stealth Mode With $8.5 Million in Funding
Related: Brazilian PAM Company Senhasegura Raises $13 Million
Related: AppSec Startup ArmorCode Raises $14 Million
Related: Laika Raises $50 Million for Its Compliance Platform
More from Ionut Arghire
- Critical Vulnerability Impacts Over 120 Lexmark Printers
- BIND Updates Patch High-Severity, Remotely Exploitable DoS Flaws
- Microsoft Urges Customers to Patch Exchange Servers
- Iranian APT Leaks Data From Saudi Arabia Government Under New Persona
- 820k Impacted by Data Breach at Zacks Investment Research
- US Government Agencies Warn of Malicious Use of Remote Management Software
- Chinese Hackers Adopting Open Source ‘SparkRAT’ Tool
- CISA Provides Resources for Securing K-12 Education System
Latest News
- Critical Vulnerability Impacts Over 120 Lexmark Printers
- BIND Updates Patch High-Severity, Remotely Exploitable DoS Flaws
- Industry Reactions to Hive Ransomware Takedown: Feedback Friday
- Microsoft Urges Customers to Patch Exchange Servers
- Iranian APT Leaks Data From Saudi Arabia Government Under New Persona
- US Reiterates $10 Million Reward Offer After Disruption of Hive Ransomware
- Cyberattacks Target Websites of German Airports, Admin
- US Infiltrates Big Ransomware Gang: ‘We Hacked the Hackers’
