Developer safety firm Snyk right now introduced a $196.5 million Collection G funding. The spherical was led by Qatar Funding Authority with participation from new traders Evolution Fairness Companions, G Squared, and Irving Buyers in addition to present traders boldstart ventures, Sands Capital, and Tiger International.
In response to the corporate, this comes after a 12 months of fast buyer adoption for Snyk, with over 2,300 customers who’ve mounted greater than 5.2 million vulnerabilities during the last 12 months.
Snyk has additionally launched profitable cross-portfolio deployments, with over 70% of customers presently leveraging Snyk’s Developer Safety platform. Snyk believes that this reveals a rise within the want to shift from legacy approaches and the hardships of managing a number of safety distributors.
“In 2022, I’m proud that Snyk achieved a 100% year-over-year enhance in income in addition to internet income retention of over 130%,” mentioned Peter McKay, CEO of Snyk. “On this difficult macroeconomic atmosphere, it’s extra important than ever for international enterprises to extend their developer productiveness and be capable of proceed their tempo of innovation securely. In 2023, we sit up for leveraging this newest funding to proceed enhancing our platform and assist extra international enterprises reap the advantages of DevSecOps.”
In 2022, the corporate additionally executed the SnykLaunch occasion, revealing Snyk Cloud GA together with new provide chain safety capabilities and higher reporting options. Lastly, Snyk helped consumer remediation of greater than 11.5 million safety dangers during the last 12 months.
In response to the corporate, this newest inflow of funding will serve to drive extra product innovation, enabling the crew at Snyk to develop each organically and inorganically by strategic acquisition.
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