Snyk closes $530m Series F investment at $8.5bn valuation
Snyk, an international security developer, has announced a $530m Series F investment to accelerate the industry’s shift to developer security as organisations rapidly modernize their applications with security built into the entire software development life cycle.
The transaction included both primary and secondary offerings with more than $300m of new capital. The company has now raised a total of $775m to date with a valuation of $8.5bn post this round, more than tripling since the beginning of 2021.
The round was co-led by Sands Capital and Tiger Global, with participation from new investors Baillie Gifford, Koch Strategic Platforms, Lone Pine Capital, T. Rowe Price and Whale Rock Capital Management as well as existing investors Accel, Addition, Alkeon, Atlassian Ventures, funds managed by BlackRock, Boldstart Ventures, Canaan Partners, Coatue, Franklin Templeton, Geodesic Capital, Salesforce Ventures and Temasek.
“This new investment, together with the rapid adoption of our platform and growing customer base, validates our developer security vision,” said Peter McKay, CEO, Snyk. “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.”
“Snyk’s innovative developer-first approach addresses a critical need for businesses – enabling their developers to move fast without compromising security,” said Michael Clarke, Managing Partner, Sands Capital. “We are thrilled to be a part of this next chapter in Snyk’s impressive journey and excited to see the company lead this growing market with new, innovative products.”