• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Snyk snags another $530M as valuation rises to $8.4B

September 9, 2021 by David Barret Leave a Comment

Snyk, the Boston-based late-stage startup that is trying to help developers deliver more secure code, announced another mega-round today. This one was for $530 million, with $300 million in new money and $230 million in secondary funding, the latter of which is to help employees and early investors cash in some of their stock options.

The long list of investors includes an interesting mix of public investors, VC firms and strategics. Sands Capital Ventures and Tiger Global led the round, with participation from new investors Baillie Gifford, Koch Industries, Lone Pine Capital, T. Rowe Price and Whale Rock Capital Management. Existing investors also came along for the ride, including Accel, Addition, Alkeon, Atlassian Ventures, BlackRock, Boldstart Ventures, Canaan Partners, Coatue, Franklin Templeton, Geodesic Capital, Salesforce Ventures and Temasek.

This round brings the total raised in funding to $775 million, excluding secondary rounds, according to the company. With secondary rounds, it’s up to $1.3 billion, according to Crunchbase data. The company has been raising funds at a rapid clip (note that the last three rounds include the Snyk money plus secondary rounds):

Snyk's last four funding rounds

While the company wouldn’t share specific revenue figures, it did say that ARR has grown 158% YoY; given the confidence of this list of investors and the valuation, it would suggest the company is making decent money.

Snyk CEO Peter McKay says that the additional money gives him flexibility to make some acquisitions if the right opportunity comes along, what companies often refer to as “inorganic” growth. “We do believe that a portion of this money will be for inorganic expansion. We’ve made three acquisitions at this point and all three have been very, very successful for us. So it’s definitely a muscle that we’ve been developing,” McKay told me.

The company started this year with 400 people and McKay says they expect to double that number by the end of this year. He says that when it comes to diversity, the work is never really done, but it’s something he is working hard at.

“We’ve been able to build a lot of good programs around the world to increase that diversity and our culture has always been inclusive by nature because we’re highly distributed.” He added, “I’m not by any means saying we’re even remotely close to where we want to be. So I want to make that clear. There’s a lot we still have to do,” he said.

McKay says that today’s investment gives him added flexibility to decide when to take the company public because whenever that happens it won’t have to be because they need another fundraising event. “This raise has allowed us to set up with strong, highly reputable public investors, and it gives us the financial resources to pick the timing. We are in control of when we do it and we will do it when it’s right,” he said.

Snyk raises $300 million at a $4.7 billion valuation as employees cash in and the security company beefs up

Source Link Snyk snags another $530M as valuation rises to $8.4B

David Barret
David Barret

Related posts:

  1. As the 20th anniversary of 9/11 rolls around, filmmakers take different approaches
  2. Guatemala starts probe into bribery allegations linked to president
  3. Thai PM survives no confidence vote as more anti-government protests planned
  4. Tennis-Relentless Raducanu races into U.S. Open last 16

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • US Sees 90 Percent Drop In Heart Attack Deaths Over Last 50 Years
  • Is A Cat Poop Parasite Decapitating Human Sperm Contributing To Rising Infertility?
  • How Fast Were Dinosaurs? Guineafowl Races Reveal They Were Probably Slower Than We Thought
  • New Claim For World’s Oldest Rocks Dates Back A Whopping 4.16 Billion Years
  • Pre-Inca Temple Was A “Ritual Gateway” To Lost Civilization Of Tiwanaku
  • NASA Study Gave Illegal Drugs To Spiders And Watched What Happened To Their Webs
  • Space Selfies & DJing A Party From Orbit – How Astronaut Luca Parmitano Brought Space To Earth
  • Regardless Of Political Affiliation, Most US Adults Actually Support Vaccine Requirements For Kids
  • Now Is The Perfect Time To See The “Summer Triangle”
  • Can A Brain Be Preserved And Uploaded? Neuroscientist Survey Reveals “Surprising” 40 Percent Probability That Yes, It Could
  • You Could Be The First Ever Human To See A Specific Galaxy In This Incredible Space Video
  • First Pieces Of The Planet Mercury May Have Been Found On Earth After “Longstanding Mystery”
  • “Miracle” Bioplastic Reflects 99 Percent Of Sun’s Rays, Massively Reducing Building Energy Use
  • Are These 2 African Gray Parrots The Only Non-Human Animals To Ever Ask A Question?
  • How Forensic Scientists Are Reconstructing Faces Using DNA Found At Crime Scenes
  • New Non-Invasive Option For Treating Non-Melanoma Skin Cancer In A Single Session
  • Evolution Running Backwards? That’s What This Unlikely Organism Appears To Be Doing
  • How Did The Starfish Become A Star? 500-Million-Year-Old Fossil Solves Evolutionary Mystery
  • JWST Has Discovered Its First Exoplanet – And It’s A Baby Saturn-Sized One!
  • Rare “Moonwalking” Killer Whale Behavior Hides Much More Gory Truth
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version