Snyk, a Boston, MA-based cloud native application security company, closed a Series E financing, totaling $300m.
The transaction included both primary and secondary offerings and resulted in $175m of new capital into the business.
The round was co-led by Accel and Tiger Global, with participation from existing investors Addition, Boldstart Ventures, Canaan Partners, Coatue, GV (formally Google Ventures), Salesforce Ventures, Stripes and funds managed by BlackRock; new investors include Alkeon, Atlassian Ventures, Franklin Templeton, Geodesic Capital, Sands Capital Ventures and Temasek.
The company, which has now raised a total of $470m to date with a valuation of $4.7 billion post this round, intends to use the funds to expand its business reach,
Led by Peter McKay, CEO, Snyk provides a Cloud Native Application Security Platform, a developer-first solution to provide security visibility and remediation for every critical component of modern applications, including the application code, open source libraries, container infrastructure and infrastructure as code. The security platform is built on a proprietary vulnerability database, maintained by an expert security research team, that currently powers strategic partners such as AWS, Datadog, Docker, Dynatrace, IBM Cloud, Rapid7, Red Hat and Trend Micro. The company works with global customers of all sizes to empower developers to automatically integrate security throughout their existing workflows.
The company additionally announced the hiring of Chief Marketing and Customer Experience Officer Jeff Yoshimura, CIO Erica Geil, Vice President, Asia Pacific Japan (APJ) Sales, Shaun McLagan, and the appointment of two new Board Members, Michael Scarpelli, Chief Financial Officer, Snowflake, and Ping Li, Partner, Accel.