Snyk, the UK-based creator of a platform that detects security flaws in open source software, has secured $22m in a series B round featuring internet and technology group Alphabet.
Alphabet participated through corporate venturing subsidiary GV and was joined by venture capital firm Accel, which led the round, Boldstart Ventures, Heavybit and unnamed additional investors. It valued Snyk at about $100m, a source close to the deal told TechCrunch.
Snyk has built a product that allows developers to automate the process of searching for security vulnerabilities in open source software. The platform is used by more than 160,000 software developers.
The company had previously raised $3m in an early 2016 seed round before adding $7m in a March 2018 series A that was co-led by Boldstart Ventures and Canaan Partners and backed by Heavybit, FundFire and angel investor Peter McKay.
