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About Snyk
Industries
Enterprise Software
Cybersecurity
Company Size
1,001-5,000
Company Stage
Late Stage VC
Total Funding
$1.5B
Headquarters
Boston, Massachusetts
Founded
2015
Overview
Snyk specializes in cybersecurity for software-driven businesses, focusing on open source security. Its platform helps developers identify and fix vulnerabilities in their code by integrating into existing workflows, using tools like a dependency scanner for open source dependencies and container images. Snyk differentiates itself by serving a wide range of clients, from startups to large enterprises, and offering tailored enterprise features. The goal is to enable organizations to develop software quickly while ensuring high security standards.
Simplify's Take
What believers are saying
- Snyk's acquisition of Probely enhances API security for AI applications.
- Partnerships with AWS and Orca Security expand Snyk's cloud-native security solutions.
- Snyk's recognition as a leader in SCA boosts its market credibility.
What critics are saying
- Delaying IPO may lead to investor impatience and confidence issues.
- Acquisitions like Helios and DeepCode could pose integration challenges.
- Workforce reduction might impact growth and service quality.
What makes Snyk unique
- Snyk's developer-first approach integrates security seamlessly into development workflows.
- The platform's focus on open source security addresses a critical market need.
- Snyk's comprehensive toolset supports both small startups and large enterprises.
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Funding
Total Funding
$1545.7M
Above
Industry Average
Funded Over
9 Rounds
Tiger Global
Coatue Management
AccelBenefits
Flexible Work Hours
Unlimited Paid Time Off
Health Insurance
Life Insurance
Disability Insurance
401(k) Retirement Plan
Growth & Insights and Company News
6 month growth
↓ -1%1 year growth
↑ 0%2 year growth
↓ -3%Snyk launches secure developer program, deepening.
Snyk, valued at $7.4 billion, has reached $300 million in ARR and plans to be cash flow positive by 2025. Despite drafting an IPO prospectus, CEO Peter McKay states there's no rush to go public, with $435 million in the bank and nearing break-even. McKay anticipates a more favorable regulatory environment in 2026. Snyk continues acquiring firms like Helios and DeepCode, with the latter contributing over $100 million in ARR. The company burned $173 million in 2023 but aims to halve losses in 2024.
Several factors indicate that Snyk, most recently valued at $7.4 billion, could IPO soon.
List for 2025 expands on evolving challenges as new sponsorship program enables OWASP Top 10 for LLMs and Generative AI Project to continue its vital work. WILMINGTON, Del., Nov. 19, 2024 /PRNewswire/ -- The OWASP Foundation today announced an update to the OWASP Top 10 for LLM Applications and Generative AI Project. Additionally, the OWASP Top 10 for LLM Apps and GenAI Project announced its sponsorship program that will allow organizations to support the project directly, enabling access to additional funding and resources so the organization can continue to invest in research, guidance and education, thus helping keep the industry adopt AI and generative AI applications more securely. The updated Top 10 List for LLMs provides a refreshed resource addressing the top 10 risks, vulnerabilities and mitigations for developing and securing generative AI and large language model (LLM) applications across the development, deployment, and management lifecycle. These applications can include static prompt augmented applications, agentic applications, LLM extensions, and complex applications
Snyk named a Leader in Software Composition Analysis (SCA) Software by independent research firm.
Snyk is Hiring for 39 Jobs on Simplify!
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About Snyk
Industries
Enterprise Software
Cybersecurity
Company Size
1,001-5,000
Company Stage
Late Stage VC
Total Funding
$1.5B
Headquarters
Boston, Massachusetts
Founded
2015
Snyk is Hiring for 39 Jobs on Simplify!
Find jobs on Simplify and start your career today