Cyber security startup Snyk raises US$300 million – Security – Software

Nancy J. Delong

Boston-based cyber security software program startup Snyk stated it raised US$300 million (A$408 million) in clean money and the firm was now valued at $8.five billion (A$11.five billion).

Synk’s technology is utilized by developers to include security factors to their new software program goods.

Cyber security has been a person of biggest areas of investment by undertaking capitalists considering the fact that the pandemic as corporations ramped up their electronic footprint, such as e-commerce and remote get the job done.

The most recent spherical co-led by Sands Money Ventures and Tiger Global follows a funding spherical in March when US$a hundred seventy five million (A$238 million) of new cash was raised.

The firm was valued at US$4.7 billion (A$6.4 billion) only six months back.

The new money will be utilized for product improvement and to strengthen its technology, the firm stated.

In addition to the clean cash raised, traders compensated US$230 million to acquire existing shares of the firm.

As startups fetch significant valuations even before publicly listing, substantial money and non-public equity firms are moving to acquire shares of non-public corporations from earlier shareholders or firm staff.

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