CyberTech giant Snyk extends its Series F round by $75m

Cybersecurity unicorn Snyk has extended its Series F round with an additional $75m in funding, putting its valuation at $8.6bn.

This fresh equity injection was deployed by Atlassian Ventures and Salesforce Ventures. Snyk has raised a total of $850m in equity, to date, with 10% of this coming from Atlassian Ventures and Salesforce Ventures.

The company claims it shares the same values as Altassian and Salesforce. All three are eager to help developers find, fix and monitor vulnerabilities in their workflows.

Snyk CEO Peter McKay said, “For Atlassian and Salesforce, this investment in Snyk is more than just capital. Like Snyk, these two industry leaders are fiercely committed to empowering developers to embed security into the entire application. We are humbled by their true, long-term commitment to evolving the legacy security industry through a developer-led approach.”

Earlier in the year, Snyk deployed its security technology into Atlassian Open DevOps, as well as its Bitbucket Cloud solution. The deployment helps developers protect their code from open-source vulnerabilities as part of their daily workflow, it said.

Snyk employs a developer-first approach to cybersecurity, ensuring organisations can secure critical components of their applications from code to cloud. Its platform automatically integrates with a developer’s workflow and fosters collaboration between teams.

The CyberTech company previously closed its Series F round on $530m in September 2021, which had put its valuation at $8.5bn. Contributions to the round came from Sands Capital, Tiger Global, Baillie Gifford, Koch Strategic Platforms, Lone Pine Capital, T. Rowe Price, Whale Rock Capital Management and several others.

In an announcement at the time, Snyk stated the funds were earmarked for the development of products and the launch of new features in 2021.

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