(Beginning from left) DeepCode Co-Founders Veselin Raychev, Boris Paskalev, and Martin Vechev. Photo credit: DeepCode

Snyk, a London-based cybersecurity upstart that’s fresh off a $200 million Series D fundraise, has announced that it’s reached a deal to acquire DeepCode, a semantic code analysis startup whose product fits well with Snyk’s cybersecurity and monitoring product suite. The financial terms of the deal weren’t disclosed. As a privately held startup, DeepCode, which was spun out of the famous Swiss university ETH Zurich, has raised over $5 million in funding. Snyk will integrate DeepCode’s technology into its own comprehensive cloud security platform following the completion of the acquisition. 

DeepCode will be integrated into a (Snyk’s) platform that currently supports more than 1.5 million developers worldwide. As of late, Snyk’s business has rapidly grown, with 275% year-over-year revenue growth and 100% year-over-year headcount growth. The company recently raised $200 million in funding at a valuation of $2.6 billion to expand its operations. 

The technology behind DeepCode is actually open-sourced and free for teams of up to 30 developers. Above that number, DeepCode charges a fee and makes money off its service. The code analysis startup’s service could serve as a key attraction for Snyk customers following its integration. 

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