With its valuation down about 12% to USD 7.4 billion since its previous round in September 2021, Snyk has announced that it has secured another USD 196.5 million investment.
Prior funding totaled USD 530 million, of which USD 300 million came from primary funding and the remaining USD 230 million from secondary funding, which was used to reimburse employees and early investors who were eager to receive a return on their equity. The initial investment was made at a valuation of USD 8.5 billion, which is USD 1.1 billion more than the most recent round.
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Evolution Equity Partners, G Squared, Irving Investors, and the Qatar Investment Authority provided the funding for this investment. Boldstart Ventures, Sands Capital, and Tiger Global, which are already investors, also took part. Currently, the business has raised USD 1.07 billion.
Read More:Snyk scores another $196M as valuation drops 12% to $7.4B
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