Israel’s Application Security Startup Snyk Now Worth $4.7 Billion
Talk about a unicorn.
Snyk, a startup in the field of cloud native application security, has reached a valuation of $4.7 billion, making it possibly the biggest unicorn in Israel’s history, if not the world. The company achieved the valuation with $300 million in new funding from a Series E financing round. The company has now raised a total of $470 million to date and has quadrupled its value since the beginning of 2020.
Snyk provides cloud native application security (CNAS) solutions which enable modern applications to be built securely, empowering developers to own and build security for the whole application, from code and open source to containers and cloud infrastructure.
Everything is going into the cloud these days. Do you use Google Docs, or any of the other Google services? Well then all of your files are stored in servers located around the world. The same thing is also now true with MS Office which offers customers cloud based software services. Notebook computers have always had a limited storage capacity. And more and more people are switching to tablets which do not offer the same services as a computer. So cloud services will soon be standard.
Synk says that its Snyk Intel Vulnerability Database powers innovative, developer-centric technology companies including Atlassian, Datadog, Docker, Dynatrace, Google, Red Hat, Salesforce and Twilio.
“Our relentless focus on the experience of the 2.2 million developers building applications of all kinds securely with Snyk has resulted in our success to date, and we believe there is an exponential, generational opportunity still in front of us,” said Peter McKay, CEO, Snyk. “This latest investment allows us to accelerate our growth at every level – doubling down on our successful product led growth strategy, adding to our customer roster, recruiting talent to our team worldwide and expanding geographically.”
Today, we are happy to announce that we’ve raised $300M in Series E funding. We wouldn’t be here without all of our users and the amazing community we’ve built – THANK YOU ✨. https://t.co/D5pnbyzluH pic.twitter.com/xl1q6PoZXK
— Snyk (@snyksec) March 10, 2021
“We believe Snyk’s developer-first approach to security is a fantastic tool for developers and organizations today,” said Chris Hecht, Head of Corporate Development, Atlassian. “Snyk has already showcased some amazing integrations with our tools, and we’re now thrilled to extend our partnership with them through an Atlassian Ventures investment.”
“Salesforce Ventures was an early investor in Snyk and we’re excited to grow our partnership even further, particularly as Snyk is deployed across various development teams at Salesforce,” said Alex Kayyal, Partner, Salesforce Ventures International. “As transformation accelerates in this digital-first world, Snyk’s vision to enable companies to embrace security earlier in the development cycle continues to resonate deeply.”