Salesforce Ventures, the corporate venturing subsidiary of cloud computing company Salesforce, helped close a $150m funding round yesterday for UK-based software debugging tool developer Snyk.
Private equity firm Stripes led the transaction, while Coatue Management, Tiger Global Management, Boldstart Ventures, Trend Forward and Amity filled out the round. Snyk is now valued at more than $1bn, according to VentureBeat.
Founded in 2015, Snyk has built a cybersecurity platform that automatically scans open source code for vulnerabilities. The tool is also able to identify licensing violations, should a developer have misinterpreted the terms of open source software.
The money will allow Snyk to accelerate product development, expand further across Europe, the Middle East and Africa as well as Asia-Pacific. Snyk has now received $252m in equity financing altogether.
GV, an early-stage corporate venturing subsidiary of technology conglomerate Alphabet, co-led a $70m funding round together with Accel and Boldstart Ventures in September 2019, reportedly at a valuation of $500m.
Accel led a $22m series B round in September 2018 that also included GV, Boldstart, Heavybit and several unnamed investors.
Boldstart and Canaan Partners had already co-led a $7m series A round earlier in 2018 that featured Heavybit, FundFire and angel investor Peter McKay.
