security industry

Snyk Closes $200M to Modernize Security Industry

Peter McKay CEO
September 9, 2020 | in Snyk Team
| By Peter McKay

On behalf of the entire Snyk family, I’m humbled to announce that today marks the closing of our latest funding round—an investment of $200 million led by Addition, a firm focused on supporting visionary entrepreneurs. This follows our fundraise earlier this year bringing our total investment to date to $450 million and our current valuation to more than $2.6 billion.  

Despite one of the most challenging and unexpected years in all of our lifetimes, all of Snyk—our employees, our business partners, and our loyal customers—have come together to drive our mission forward: to modernize the security industry by empowering developers to integrate security into the complete software development lifecycle. This developer-first approach ensures that software-driven organizations big and small can continue to develop applications quickly and stay secure

And, we don’t intend to slow down now! 

This latest investment will help us to better meet the unique challenges of our time.  As the pandemic fuels the dramatic acceleration of digital transformation projects globally, it’s crucial that we continue to provide very busy development teams with security intelligence, automated workflows, and visibility that will help mitigate their risks faster and more easily. 

I couldn’t be more proud and grateful for all of the hard work that has led us to this milestone. Over the last year, we’ve grown revenue by 275%, increased our headcount by 100%, and forged several new and significant partnerships with industry leaders such as Atlassian, Docker, Red Hat, Trend Micro, and Rapid7.  Of course, none of this would be possible without the world’s strongest community of more than 1.5 million developers embracing the DevSecOps movement.

I know we’ll continue to support each other as we find new and exciting ways to accelerate the development of secure software globally. To this end, please consider joining us for SnykCon next month, our first virtual user conference. It’s free and all proceeds will benefit the Bill & Melinda Gates Foundation. And we also continue to grow our stellar team so check out the open roles and learn more about our unique culture at Jobs at Snyk.

May we all stay safe and healthy as we close the books on 2020.