Snyk, a Boston, MA-based developer security company, raised $530m in Series F funding at a valuation of $8.5 billion post this round.
The transaction included both primary and secondary offerings with more than $300m of new capital.
The round was co-led by Sands Capital Ventures and Tiger Global, with participation from new investors Baillie Gifford, Koch Strategic Platforms, Lone Pine Capital, T. Rowe Price and Whale Rock Capital Management as well as existing investors Accel, Addition, Alkeon, Atlassian Ventures, funds managed by BlackRock, Boldstart Ventures, Canaan Partners, Coatue, Franklin Templeton, Geodesic Capital, Salesforce Ventures and Temasek.
The company intends to use the funds to accelerate product innovation and development, introduce new enhancements to its Developer Security Platform, new workflow integrations, improved functionality and new features at that time.
Led by Peter McKay, CEO, Snyk provides a platform that allows developers to build secure applications and secure all of the critical components of their applications from code to cloud. Its Developer Security Platform automatically integrates with a developer’s workflow and is purpose-built for security teams to collaborate with their development teams. Snyk is used by 1,200 customers worldwide today, including industry leaders such as Asurion, Google, Intuit, MongoDB, New Relic, Revolut and Salesforce.
To help Snyk continue to execute on these ambitious growth plans, the company has enhanced its Leadership Team with the addition of Chief Revenue Officer, Dino DiMarino, who will join the company early next month. DiMarino is one of several new experienced leaders recently added to the Snyk team, following the hiring of Chief People Officer Adriana Bokel Herde earlier this month as well as Chief Marketing and Customer Experience Officer, Jeff Yoshimura, CIO Erica Geil and Vice President, Asia Pacific Japan (APJ) Sales, Shaun McLagan earlier this year.