Snyk secures £382m Series F investment co-led by Sands Capital and Tiger Global
The funding round values the developer security platform at £8.5bn.
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.
Developer security platform Snyk has raised £382m in a Series F funding round co-led by Sands Capital and Tiger Global, pushing its valuation to £8.5bn. The transaction comprises both primary and secondary offerings, injecting over £300m of new capital into the business.
The financing follows a period of rapid growth for the company, which has seen its annual recurring revenue rise significantly and its headcount expand. The proceeds will be directed towards ongoing product innovation and development.
A large roster of both new and existing backers participated in the round, including Baillie Gifford, Accel, and Addition. Snyk plans to showcase upcoming platform enhancements at its forthcoming annual developer conference.
From the founder
"This new investment, together with the rapid adoption of our platform and growing customer base, validates our developer security vision,"
Peter McKay
CEO at Snyk
Investor perspective
"Snyk’s innovative developer-first approach addresses a critical need for businesses – enabling their developers to move fast without compromising security,"
Michael Clarke
Managing Partner, Sands Capital
Use of funds
- 01Continue product development
Investors
Michael Clarke
Sands Capital
Tiger Global
Baillie Gifford
Koch Strategic Platforms
Lone Pine Capital
T. Rowe Price
Whale Rock Capital Management
Accel
Addition
Alkeon
Atlassian Ventures
BlackRock
Boldstart Ventures
Canaan Partners
Coatue
Franklin Templeton
Geodesic Capital
Salesforce Ventures
Temasek
