Snyk

Snyk builds security tools for software developers. Its products check custom code, open-source libraries, containers and cloud infrastructure configuration for vulnerabilities and license problems while software is still being written, rather than after it ships. The company was founded in 2015 in Tel Aviv and London by Guy Podjarny, Danny Grander and Assaf Hefetz, and is headquartered in Boston. Podjarny was the first chief executive; Peter McKay, one of the company's early investors, became CEO in 2019. Customers named in coverage of its 2021 financing include Google, Salesforce, Intuit and Atlassian.

Boldstart Ventures led a $3 million seed round in 2016. In March 2018 Boldstart Ventures and Canaan Partners co-led a $7 million Series A, with Heavybit, FundFire and Peter McKay participating; at the time Snyk had 130 paying customers and 30 employees. A $70 million round followed in 2019 and a $150 million round in January 2020 valued the company at more than $1 billion. In September 2020 Addition, the firm founded by Lee Fixel, led a $200 million round at a $2.6 billion valuation, bringing total funding to $450 million. In March 2021 Accel and Tiger Global led a $300 million round at a $4.7 billion valuation, joined by existing investors Addition, Boldstart Ventures, Canaan Partners, Coatue, GV, Salesforce Ventures and BlackRock-managed funds, and new investors including Alkeon, Atlassian Ventures, Franklin Templeton, Geodesic Capital, Sands Capital Ventures and Temasek. Six months later Tiger Global and Sands Capital led a $530 million Series F, of which $300 million was new capital, at an $8.5 billion valuation, taking total funding to $775 million.

Snyk has remained private. Qatar Investment Authority led a round of close to $200 million in December 2022, and ServiceNow invested $25 million in January 2023. Wikipedia reports 2023 revenue of about $220 million with a net loss of about $176 million, and roughly 1,400 employees in 2022. The company has grown by acquisition, buying DeepCode (2020), Manifold and FossID (2021), CloudSkiff (2021), Fugue (2022), Probely (2024) and Invariant Labs (2025). Bloomberg reported in late 2021 that Snyk was preparing for a 2022 IPO, which did not take place.

For investors, Snyk shows how quickly a developer-first security product could compound valuation in the 2020 to 2021 market: from a $7 million Series A in 2018 to an $8.5 billion valuation three and a half years later. Seed and Series A backers Boldstart Ventures, Canaan Partners and Heavybit entered at the earliest stages, while the 2021 rounds included secondary sales that let employees and early holders take liquidity. The company's backers are still waiting on an exit five years after the IPO preparations Bloomberg reported, a common position for late-stage software companies priced in 2021.