- General
- September 9, 2020
- 3 minutes read
Snyk Bags Extra $200 Million
Snyk Founder Guy Podjarny. Photo credit: O’Reilly Conferences on Flickr, under Creative Commons license Snyk, a London-based cybersecurity upstart, has…
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| Snyk Founder Guy Podjarny.
Photo credit: O’Reilly Conferences on Flickr, under Creative Commons license
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Snyk, a London-based cybersecurity upstart, has announced that it’s raised an additional $200 million in funding led by Addition, an investment firm headed by famed tech investor Lee Fixel. The funding adds up the total amount of financing that Snyk has raised since its inception to $450 million and values the company at $2.6 billion. Snyk says its annual revenue has grown by 275% and that it’s doubled its headcount in the past year. The company will use the new capital to further its operations.
Before now, Snyk last raised funding only nine months ago. That round, a $150 million investment, valued Snyk at more than $1 billion. The company has apparently doubled its valuation in less than a year.
Snyk currently has 375 employees, with plans to add 100 more through next year. The London-based company has grown rapidly, having been founded only five years ago.
