Snyk secures £160m Series G funding led by Qatar Investment Authority to enhance its developer security platform
The financing round included participation from Evolution Equity Partners, G Squared, Irving Investors, boldstart ventures, Sands Capital and Tiger Global.
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 £160m in a Series G funding round led by Qatar Investment Authority. The financing also drew participation from new backers Evolution Equity Partners, G Squared and Irving Investors, alongside existing supporters boldstart ventures, Sands Capital and Tiger Global.
The capital will be directed towards product development and strategic acquisitions to enhance the company platform. This injection of funds follows a period of strong customer growth and increased adoption of the firm security solutions across global enterprises.
From the founder
"In 2022, I’m proud that Snyk achieved a 100% year-over-year increase in revenue as well as net revenue retention of over 130%,"
Peter McKay
CEO at Snyk
Investor perspective
"As Snyk’s first investor, it’s been incredibly rewarding to see the developer security market mature over the last several years,"
Ed Sim
Founder and General Partner, boldstart ventures
Use of funds
- 01Continue product development
- 02Fund acquisitions
Investors
Mansoor Ebrahim Al-Mahmoud
Qatar Investment Authority
Evolution Equity Partners
G Squared
Irving Investors
Ed Sim
boldstart ventures
Sands Capital
Tiger Global
