Synk Valuation Hits $1 Billion, Secures $150 Million in Funding

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.

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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.

Source: https://techcrunch.com/2020/01/21/snyk-snags-150m-investment-as-its-valuation-surpasses-1b/