Snyk

Snyk Limited is a developer-oriented cybersecurity company, specializing in securing custom developed code, open-source dependencies and cloud infrastructure. It was founded in 2015^[3] out of Tel Aviv and London^[4] and is headquartered in Boston.^[5]

Snyk Limited

Company type	Private
Industry	Computer security
Founded	2015; 10 years ago (2015)
Founders	Guy Podjarny Danny Grander Assaf Hefetz
Headquarters	Boston, Massachusetts , U.S.
Key people	Peter McKay (CEO)
Revenue	US$220 million (2023)[1]
Net income	−US$176 million (2023)[1]
Number of employees	1,400 (2022)[2]
Website	snyk.io

History

Snyk was founded in 2015 by Guy Podjarny (Hebrew: גיא פודחרני), Assaf Hefetz (אסף חפץ), and Danny Grander, (דני גרנדר)^[5] coming from Unit 8200, a SIGINT unit of the Israel Defense Forces.^[6][7] Podjarny started as CEO.

In July 2019, Peter McKay, one of the first investors, succeeded him, while Podjarny became president and chairman of the Board of Directors.^[8]

In 2022, the company had approximately 1,400 employees.^[2] It also has offices in Tel Aviv, Ottawa, Zurich and London.^[9][10]

Acquisitions

Snyk acquisitions include:

• DeepCode (Sep-2020),^[11] which provided what became Snyk Code, a product for static application security testing. Snyk Code is a cloud-based, AI-powered code review platform that checks, tests, and debugs code. It uses machine learning to check for mistakes in code. The platform currently supports Apex, C#, C/C++, Go, Java, JavaScript, Kotlin, PHP, Python, Ruby, Scala, Swift, TypeScript, and Visual Basic (.NET).^[12][13][14]
• Manifold (Jan-2021),^[15] which was focused on software asset management.^[15]
• FossID (May-2021),^[16] which provided vulnerability scanning in C/C++ applications and the capability to identify pieces of code copied from the internet, e.g., from Stackoverflow, which could contain vulnerabilities.^[17] FossID was reacquired by the founders in Sep-2022 and is refocused on its core principles.^[18]
• CloudSkiff (Oct-2021),^[19] which was known for its open-source tool for drift detection (detection of changes in the outside environment which may invalidate software infrastructure configuration, database setup, etc.).^[20]
• Fugue (Feb-2022),^[21] which provided cloud security posture management (CSPM) solutions.^[22]
• Probely (Nov-2024),^[23] a start-up based in Porto, Portugal focused on dynamic application security testing (DAST).^[24]

Financing

In 2016, the company initially raised $3 million. In March 2018, its Series A funding was $7 million.^[25] In late 2019, it raised $70 million and a further $150 million in January 2020.^[7] In September 2021, a $300 million Series F funding round valued the company at $8.5 billion.^[26][27] This came six months after a valuation of $4.7 billion.^[28][29] Qatar Investment Authority led the next funding round in December 2022, with Snyk raising close to $200 million.^[30]

In December 2021, Bloomberg reported that Snyk was preparing for an IPO in 2022.^[6][31]

In January 2023, ServiceNow Inc. invested $25 million in Snyk.^[32]

Products

The company's security products are designed to help software developers find weaknesses, violations, and vulnerabilities in their code.^[33] The company's vulnerability database records security issues found in open-source software libraries, and corrects the code.^[34][35][36] Security vulnerabilities are identified and addressed during the development process, before the software product is in use.^[37][38]