Snyk secures £126.2m Series E investment co-led by Accel and Tiger Global
The financing round was co-led by Accel and Tiger Global to support the company's global expansion.
Snyk provides a developer security platform that helps enterprises find and fix software vulnerabilities. The firm operates globally to integrate security into the development process.
Snyk has secured £126.2m in Series E funding through a financing round co-led by Accel and Tiger Global. The transaction includes both primary and secondary offerings, bringing new capital into the business as the firm scales its developer-first security platform.
The investment follows participation from a broad group of existing backers and new institutional investors. The company intends to deploy the fresh funds to accelerate its global growth strategy and expand its team.
Founded in 2015, Snyk has experienced rapid growth amid rising demand for developer-centric security solutions. The latest financing values the business at £3.4bn following a period of sustained expansion.
From the founder
"This latest investment allows us to accelerate our growth at every level – doubling down on our successful product led growth strategy, adding to our customer roster, recruiting talent to our team worldwide and expanding geographically."
Peter McKay
CEO at Snyk
Investor perspective
"Throughout our partnership, we’ve witnessed first-hand Snyk’s unshakeable dedication to developer and security teams and their original vision become a reality. We’re looking forward to supporting the successes of Snyk in 2021 and beyond."
Ping Li
Partner, Accel
Use of funds
- 01Grow the team
- 02Expand into international markets
- 03Continue product development
Investors
Ping Li
Accel
Tiger Global
Addition
Boldstart Ventures
Canaan Partners
Coatue
GV
Alex Kayyal
Salesforce Ventures
Stripes
BlackRock
Alkeon
Chris Hecht
Atlassian Ventures
Franklin Templeton
Geodesic Capital
Sands Capital Ventures
Temasek
