Snyk Secures $530 in New Funding

Snyk, a cloud-native application security provider, this week announced it’s Series F funding round totaling $530 million. With this round, Snyk has raised $775 million to date and now is valued at $8.5 billion, triple its value at the beginning of 2021.

Snyk has already achieved a number of milestones in 2021 following the company’s Series E financing and expansion into Asia Pacific Japan earlier this year.

So far this year, Snyk has:

• Increased annual recurring revenue (ARR) by 154% year-over-year.
• Grown its customer base to more than 1,200 companies, from established enterprise leaders to emerging hypergrowth technology players.
• Hired and onboarded 320 employees with projections to end the year with more than 800 employees worldwide.
• Delivered more than 40 new product features.
• Successfully acquired FossID to expand license compliance and programming language capabilities.

Peter McKay is Snyk‘s CEO.

“This new investment, together with the rapid adoption of our platform and growing customer base, validates our developer security vision,” he said. “When security starts with the world’s expanding pool of developers – estimated to reach 45 million by 2030 –  organizations of all sizes will be able to truly reap the rewards of digital transformation, while also making the world’s software safer.”