Boston-based developer security firm Snyk on Wednesday announced that it has raised $300 million in a Series E funding round that values the company at $4.7 billion.
The funding round includes primary and secondary offerings — $175 million represents new capital for the business. The money will be used to meet the growing global demand for its cloud native application security platform, the company said.
The latest funding round was co-led by Tiger Global and Accel, with participation from Addition, Boldstart Ventures, Canaan Partners, Coatue, GV (formerly Google Ventures), Salesforce Ventures, Stripes, Alkeon, Atlassian Ventures, Franklin Templeton, Geodesic Capital, Sands Capital Ventures and Temasek.
Snyk became a cybersecurity unicorn in January 2020, when it announced raising $150 million in Series C financing. Later, in September, it announced raising another $200 million in a Series D funding round.
The total amount Snyk has raised to date from its venture capital and investment partners is $470 million. The company told SecurityWeek that previously announced amounts included both primary and secondary investment, but in the latest round it decided to be more clear about new investment into the business. In the Series D round, for instance, $155 million represented secondary investment.
Snyk provides solutions that help organizations find and fix security issues in open source software, container images, Kubernetes applications, and infrastructure. It claims that its solutions have been used by more than 2.2 million developers.
The company on Wednesday also announced expanding its executive team and naming two new members to its board of directors.
“Our relentless focus on the experience of the 2.2 million deve ..
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