Snyk Raises $70M to Accelerate Dev-first Security

Peter McKay CEO
September 9, 2019 | in Snyk Team
| By Peter McKay

The Snyk Team is thrilled to announce we have raised $70 million investment, led by Accel and existing investors GV and Boldstart Ventures, to further boost our growth and leadership in the dev-first security market! 

After an incredibly exciting year, including revenue exceeding 4x growth and the acquisition of DevSecCon, the new funding will be used to fuel the company’s ambitious growth plans that include further product development, expanding global resources and community investment to bring our developer-first security solutions to even more development teams and enterprise organizations. 

We are fortunate to have partnered with great investors included Accel, Boldstart Ventures, and GV who have realized Snyk’s unique value and continue to support and accelerate our momentum and success. 

“Accel has a long history in the security market and we believe Snyk is bringing a truly unique, developer-first approach to security in the enterprise,” said Matt Weigand, Accel.” The strength of Snyk’s customer base, rapidly growing free user community, leadership team and innovative product development prove the company is ready for this next exciting phase of growth and execution.” 

Snyk was founded on the belief that developers will embrace security given the right solution. Four years later, we’ve seen that vision become reality, with hundreds of thousands of developers using our solutions to secure their containers and applications.  Snyk has reached a number of major milestones since the last round of funding. The global user community has expanded to more than 300,000 developers worldwide, and Snyk’s customer base grew dramatically – by 200 percent in 2019. Added to this, more than 90 percent of Snyk’s customers originate from inbound and product-led opportunities. 

Snyk couldn’t have achieved these milestones without an amazing and dedicated global team who work every day to further Snyk’s success and help transform the security industry by empowering devs to build better, safer software

We are also grateful to our engaged and supportive customers, from our early adopters to leading enterprise customers, we thank you for your continued partnership and we commit to continuing to make Snyk better everyday with your help and feedback. 

And finally, we thank Patch, for the unconditional love and memorable purple face 🙂 

We hope you will continue on this journey with us! 

Try Snyk for free here and we are hiring! Come join the team!