We are excited to bring Transform 2022 back in-person July 19 and virtually July 20 - 28. Join AI and data leaders for insightful talks and exciting networking opportunities. Register today!
Let the OSS Enterprise newsletter guide your open source journey! Sign up here.
Snyk, the company behind an open source security scanning platform, has extended its series F round of funding by another $75 million. The Boston-headquartered company announced a $530 million investment just a few weeks back at a whopping $8.5 billion valuation. The transaction included both primary and secondary investments, meaning that Snyk had in fact only raised around $300 million in fresh capital.
For the extension, which closes the series F round off at $605 million, Snyk has attracted return investments from the venture capital arms of Atlassian and Salesforce, which are now responsible for 10% of Snyk’s $850 million total raised since its inception. And for the record, Snyk is now valued at $8.6 billion.
By way of a brief recap, Snyk’s SaaS platform helps developers find and fix vulnerabilities — as well as surface license violations — in their open source codebases, containers, and Kubernetes applications. Founded initially out of London and Tel Aviv in 2015, Snyk has amassed an impressive roster of customers in its six-year history, including Google, Salesforce, Intuit, and Atlassian.
Atlassian’s follow-on investment in Snyk is particularly notable, as it comes shortly after Snyk announced a slew of integrations with Bitbucket Cloud and Atlassian Open DevOps, suggesting that Atlassian’s continued backing is as much a strategic move as it is anything else.
“Snyk is reinventing the way organizations think about security,” Atlassian’s head of corporate development Chris Hecht said in a statement. “They are a vital part of our ecosystem, tightly integrated into our core products.”
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Learn more about membership.