Snyk Secures $7M in Series A Funding

Snyk, a London, UK-based provider of a solution for addressing vulnerabilities in open source libraries, closed a $7m Series A round of funding.

The round, which brings total funding to date to $10m, was led by Boldstart Ventures and Canaan Partners with participation from Heavybit, FundFire, and Peter McKay (Co-CEO of Veeam), among others. As part of this funding round, McKay will join Snyk’s board of directors.

The company intends to use the funds to deploy additional product offerings that improve the secure usage of open source for developers and and scale beyond the 20 languages and platforms it currently supports.

Led by Guy Podjarny, CEO and co-founder, Snyk provides companies with a platform to address vulnerabilities in open source libraries.
The platform integrates into the developer workflow, connecting with source control (e.g. GitHub, BitBucket, GitLab), hooking into your CI/CD pipelines and continuously monitoring PaaS and Serverless apps in production to proactively fix found issues. It does it by relying on its extensive proprietary vulnerability database, maintained by its security research team in Israel.
There are over 120,000 developers using the platform, 100,000 projects protected, 350,000 downloads per month, and partnerships with Heroku, JFrog and Microsoft Sonar.
Current customers include Auth0, Digital Ocean, and Skyscanner.

FinSMEs

06/03/2018