US-based cybersecurity technology developer Snyk has added $75m from investors including enterprise software providers Salesforce and Atlassian to expand its series F round to $605m.
The investors participated in the tranche through their respective corporate venturing units, Salesforce Ventures and Atlassian Ventures. It valued the company at $8.6bn.
Snyk’s cloud-based security software tool helps developers shore up the safety of their designs. The second close brings its total funding to nearly $1.4bn and comes just weeks after the $530m first tranche.
Sands Capital and Tiger Global Management co-led the September close, investing with Accel, Addition, BlackRock, Baillie Gifford, Alkeon, Canaan Partners, Boldstart Ventures, Franklin Templeton Coatue, Geodesic Capital, Lone Pine Capital, T Rowe Price, Whale Rock Capital Management and Temasek.
The company raised $300m in a March 2021 series E round co-led by Accel and Tiger Global Management that included internet and technology conglomerate Alphabet’s GV unit, Atlassian Ventures, Salesforce Ventures, Addition, Boldstart Ventures, Canaan Partners, Stripes, Coatue, Alkeon, Geodesic Capital, Sands Capital Ventures, BlackRock and Temasek.
Addition had previously led the company’s $200m series D round in September 2020 at a $2.6bn valuation. Its earlier funding came from Salesforce Ventures, GV, financial intelligence provider FundFire, Stripes, Coatue, Tiger Global, Boldstart, Trend Forward, Heavybit, Canaan Partners, Amity and various individuals.
Peter McKay, Snyk’s chief executive, 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.”
