Company:Snyk

From HandWiki
Snyk Limited
TypePrivate
IndustryComputer security
Founded2015; 11 years ago (2015)
Founders
  • Guy Podjarny
  • Danny Grander
  • Assaf Hefetz
Headquarters
Boston, Massachusetts
,
U.S.
Key people
Peter McKay (CEO)
RevenueIncrease US$220 million (2023)[1]
Negative increase −US$176 million (2023)[1]
Number of employees
1,400 (2022)[2]
Websitesnyk.io

Snyk Limited is a developer-oriented cybersecurity company, specializing in securing custom-developed code, open-source dependencies and cloud infrastructure. It was founded in 2015[3] out of Tel Aviv and London[4] and is headquartered in Boston.[5]

History

Snyk was founded in 2015 by Guy Podjarny (Hebrew: גיא פודחרני), Assaf Hefetz (אסף חפץ), and Danny Grander, (דני גרנדר)[5] coming from Unit 8200, a SIGINT unit of the Israel Defense Forces.[6][7] Podjarny started as CEO.

In July 2019, Peter McKay, one of the first investors, succeeded him, while Podjarny became president and chairman of the Board of Directors.[8]

In 2022, the company had approximately 1,400 employees.[2] It also has offices in Tel Aviv, Ottawa, Zurich and London.[9][10]

Acquisitions

Snyk acquisitions include:

Financing

In 2016, the company initially raised $3 million. In March 2018, its Series A funding was $7 million.[26] In late 2019, it raised $70 million and a further $150 million in January 2020.[7] In September 2021, a $300 million Series F funding round valued the company at $8.5 billion.[27][28] This came six months after a valuation of $4.7 billion.[29] Qatar Investment Authority led the next funding round in December 2022, with Snyk raising close to $200 million.[30]

In December 2021, Bloomberg reported that Snyk was preparing for an IPO in 2022.[6][31]

In January 2023, ServiceNow Inc. invested $25 million in Snyk.[32]

Products

The company's security products are designed to help software developers find weaknesses, violations, and vulnerabilities in their code.[9] The company's vulnerability database records security issues found in open-source software libraries, and corrects the code.[33][34][35] Security vulnerabilities are identified and addressed during the development process, before the software product is in use.[36][37]

References

  1. ↑ 1.0 1.1 "Snyk cuts losses by a third, boosts revenue by 50%, as it prepares for IPO". 6 October 2024. https://www.calcalistech.com/ctechnews/article/sj59orekkg. 
  2. ↑ 2.0 2.1 Gilead, Assaf (24 October 2022). "Cybersecurity co Snyk lays off 14% of workforce". Globes. https://en.globes.co.il/en/article-cybersecurity-co-snyk-laying-off-14-of-workforce-1001427487. 
  3. ↑ Miller, Ron (September 9, 2020). "Snyk bags another $200M at $2.6B valuation 9 months after last raise". TechCrunch. https://techcrunch.com/2020/09/09/snyk-bags-another-200m-at-2-6b-valuation-9-months-after-last-raise/. 
  4. ↑ Alspach, Kyle (24 November 2021). "Cloud security shifting to 'dev' not 'ops,' Snyk says". VentureBeat. https://venturebeat.com/2021/11/24/cloud-security-shifting-to-dev-not-ops-snyk-says/. 
  5. ↑ 5.0 5.1 "15. Snyk". CNBC. 25 May 2021. https://www.cnbc.com/2021/05/25/snyk-disruptor-50.html. 
  6. ↑ 6.0 6.1 "THE ISRAELI CYBER COMPANY SNYK IS PREPARING FOR AN INITIAL PUBLIC OFFERING", Israel Financial Insider, January 1, 2022
  7. ↑ 7.0 7.1 "Israeli cybersecurity co Snyk raises $150m", Globes, January 21, 2020
  8. ↑ Miller, Ron (2019-07-17). "Snyk brings in new CEO to help lead future expansion" (in en-US). https://techcrunch.com/2019/07/17/snyk-brings-in-new-ceo-to-help-lead-future-expansion/?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAHWmuzkuL44m22f3CBhNoqCvuURnE3Kxmh3436WBU19PbORz39mwoVh50_KA0jraw5w17Ua2o-v21I6HM1Q7uEuE6FuaY4cFZz-r_R7ILQKPxTgdTUwiLpT7M6QV-9j3OYlGXjmfNPUQdUR7usIDM0vu7O8FhPxndpMBaPfIsjcz. 
  9. ↑ 9.0 9.1 "Cybersecurity co Snyk raises $300m at $8.5b valuation". Globes. 9 September 2021. https://en.globes.co.il/en/article-cybersecurity-co-snyk-raises-300m-at-85b-valuation-1001384232. 
  10. ↑ "One Team: An Interview with Snyk CEO Peter McKay". Comparably. https://www.comparably.com/news/one-team-an-interview-with-snyk-ceo-peter-mckay/. 
  11. ↑ Vizard, Mike (2020-09-23). "Snyk Acquires DeepCode to Apply AI to DevSecOps". DevOps.com. https://devops.com/snyk-acquires-deepcode-to-apply-ai-to-devsecops/. Retrieved 2024-11-12. 
  12. ↑ "Supported languages, frameworks, and feature availability overview: Code analysis (Snyk Code)" (in en). October 16, 2023. https://docs.snyk.io/scan-using-snyk/supported-languages-and-frameworks/supported-languages-frameworks-and-feature-availability-overview#code-analysis-snyk-code. 
  13. ↑ Krill, Paul (2019-10-25). "DeepCode taps AI for code reviews" (in en). https://www.infoworld.com/article/3448416/deepcode-does-ai-driven-code-reviews.html. 
  14. ↑ "ETH AI spin-off DeepCode acquired by a unicorn in cybersecurity" (in en). September 23, 2020. https://ethz.ch/en/news-and-events/eth-news/news/2020/09/deepcode.html. 
  15. ↑ 15.0 15.1 Moreira, Peter (2021-01-27). "Halifax’s Manifold Acquired by Snyk". Entrevestor. https://entrevestor.com/home/entry/halifaxs-manifold-acquired-by-snyk. Retrieved 2024-11-12. 
  16. ↑ Sawers, Paul (2021-05-21). "Snyk bolsters open source software security with FossID acquisition". VentureBeat. https://venturebeat.com/business/snyk-bolsters-open-source-software-security-with-fossid-acquisition/. 
  17. ↑ Thomas, Winston (3 September 2021). "Why we need reimagine security cloud native". CDO Trends. https://www.cdotrends.com/story/15853/why-we-need-reimagine-security-cloud-native. 
  18. ↑ "FossID is Reacquired from Snyk by Original Founders to Renew Focus on Open Source License Compliance Risk". https://fossid.com/news/fossid-reacquired-from-snyk-by-original-founders/. Retrieved 2024-11-12. 
  19. ↑ Hardcastle, Jessica Lyons (2021-11-03). "Snyk Buys CloudSkiff as $600M Burns Holes in Its Pockets". SDX Central. https://www.sdxcentral.com/articles/news/snyk-buys-cloudskiff-as-600m-burns-holes-in-its-pockets/2021/11/. Retrieved 2 December 2021. 
  20. ↑ "Snyk Agrees to Acquire CloudSkiff, Creators of driftctl". Dark Reading. 29 October 2021. https://www.darkreading.com/application-security/snyk-agrees-to-acquire-cloudskiff-creators-of-driftctl. 
  21. ↑ Ehrlich, Chris (2022-04-04). "Snyk Acquires Developer Cloud Security Platform Fugue". Datamation. https://www.datamation.com/applications/snyk-acquires-developer-cloud-security-platform-fugue/. Retrieved 2024-11-12. 
  22. ↑ Alspach, Kyle (2022-02-17). "Snyk expands into cloud security with acquisition of Fugue". https://venturebeat.com/security/snyk-leaps-into-cloud-security-with-acquisition-of-fugue/. Retrieved 2024-11-12. 
  23. ↑ Alspach, Kyle (2024-11-12). "Snyk Expands API Security Testing With Acquisition Of Probely". CRN. https://www.crn.com/news/security/2024/snyk-expands-api-security-testing-with-acquisition-of-probely. Retrieved 2024-11-12. 
  24. ↑ Novinson, Michael (2024-11-12). "Snyk Acquires Probely to Strengthen API Security for AI Apps". Data Breach Today. https://www.databreachtoday.com/snyk-acquires-probely-to-strengthen-api-security-for-ai-apps-a-26787. Retrieved 2024-11-12. 
  25. ↑ "Snyk Acquires Invariant Labs to Accelerate Agentic AI Security Innovation". snyk. 2024-06-24. https://snyk.io/news/snyk-acquires-invariant-labs-to-accelerate-agentic-ai-security-innovation/. 
  26. ↑ "Snyk snares $7 million investment to help developers secure open source code". TechCrunch. March 6, 2018. https://techcrunch.com/2018/03/06/snyk-snares-7-million-investment-to-help-developers-secure-open-source-code/. 
  27. ↑ Sawers, Paul (9 September 2021). "Open source security scanning platform Snyk raises $300M". VentureBeat. https://venturebeat.com/2021/09/09/open-source-security-scanning-platform-snyk-raises-530m/. 
  28. ↑ "Snyk Says $8.5B Valuation 'Validates Developer-Security Vision'". SDX Central. https://www.sdxcentral.com/articles/news/snyk-says-8-5b-valuation-validates-developer-security-vision/2021/09/. 
  29. ↑ "Snyk raises $300 million at a $4.7 billion valuation as employees cash in and the security company beefs up". TechCrunch. March 11, 2021. https://techcrunch.com/2021/03/10/snyk-raises-300-million-at-a-4-7-billion-valuation-as-employees-cash-in-and-the-security-company-beefs-up/. 
  30. ↑ Primack, Dan (13 December 2022). "Security startup Snyk raises big money at smaller valuation". https://www.axios.com/2022/12/13/security-startup-snyk-raises-big-money-at-smaller-valuation. 
  31. ↑ Catie Roof, "Cybersecurity Startup Snyk Is Said to Plan 2022 IPO", Bloomberg, December 23, 2021
  32. ↑ Lin, Belle (2023-01-24). "Cyber Startup Snyk Raises $25 Million From ServiceNow" (in en-US). Wall Street Journal. ISSN 0099-9660. https://www.wsj.com/articles/cyber-startup-snyk-raises-25-million-from-servicenow-11674521353. 
  33. ↑ "Snyk: 50% of security jobs unfilled… any solution predicated on devs 'becoming security experts is doomed'". The Register. https://www.theregister.com/2021/09/07/guy_podjarny_snyk/. 
  34. ↑ Chernova, Yuliya (21 January 2020). "Snyk's Skyrocketing Valuation Reflects Growing Interest in Late-Stage Enterprise Businesses". Wall Street Journal (Wall St Journal). https://www.wsj.com/articles/snyks-skyrocketing-valuation-reflects-growing-interest-in-late-stage-enterprise-businesses-11579650334. 
  35. ↑ "UK-founded security unicorn snags $75M for digital transformation". UKTN. October 2021. https://www.uktech.news/cybersecurity/uk-founded-security-unicorn-snags-75m-for-digital-transformation-20211001. 
  36. ↑ "Snyk takes application security to the developer's doorstep". Silicon Angle. December 2021. https://siliconangle.com/2021/12/01/snyk-takes-application-security-to-the-developers-doorstep-reinvent/. 
  37. ↑ "Local cybersecurity startup Snyk attracts $530 million in new cash". Boston Globe. https://www.bostonglobe.com/2021/09/09/business/local-cybersecurity-startup-snyk-attracts-530-million-new-cash/. 



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