Snyk, a security startup, has raised $150 million in the latest round of funding. The Series C funding has put the company’s valuation at more than $1 billion. The latest round of funding will be used to drive Snyk’s product innovation and scale its business for more significant expansion into Europe, the Middle East, Africa, and Asia-Pacific regions.
Synk is a developer-focused platform that identifies vulnerabilities in open source applications. It has built up a community of over 4 lakh developers. The company reported over 400% revenue growth in 2019, and some of its largest customers include Google, Intuit, New Relic, and Salesforce.