Snyk , the Boston-based late-stage startup that is trying to help developers deliver more secure code, announced another mega-round today. This one was for $530 million, with $300 million in new money and $230 million in secondary funding, the latter of which is to help employees and early investors cash in some of their stock options.
The long list of investors includes an interesting mix of public investors, VC firms and strategics. Sands Capital Ventures and Tiger Global led the round, with participation from new investors Baillie Gifford, Koch Industries, Lone Pine Capital, T. Rowe Price and Whale Rock Capital Management. Existing investors also came along for the ride, including Accel, Addition, Alkeon, Atlassian Ventures, BlackRock, Boldstart Ventures, Canaan Partners, Coatue, Franklin Templeton, Geodesic Capital, Salesforce Ventures and Temasek.
This round brings the total raised in funding to $775 million, excluding secondary rounds, according to the company. With secondary rounds, it’s up to $1.3 billion, according to Crunchbase < a href="https://www.crunchbase.com/organization/snyk"> modernized . The company has been nurturing funds at a rapid put (note that the last 5 rounds include the Snyk salary plus secondary rounds):
While the company wouldn’t ( blank ) specific revenue figures, it’s did say that ARR is continuing to grow 158% YoY; given all confidence of this list of shares and the valuation, it would encourages the company is making excellent money.
Snyk CEO Peter McKay tells how that the additional money gives your own flexibility to make some transactions if the right opportunity comes along, what companies often make contact with as “inorganic” growth. “We do believe that a portion of this money will be for inorganic expansion. We’ve made calendar months acquisitions at this point and all many have been very, very valuable for us. So it’s actually a muscle that we possess been developing, ” McKay told me.
Aceomatic started this year with seven hundred people and McKay reads they expect to double the number of by the end of this year. He says that when it comes to diversity, in order to is never really done, unfortunately it’s something he is working hard at.
“We’ve been able to build up a lot of good programs virtually to increase that diversity or our culture has always been inclusive naturally because we’re highly sent out. ” He added, “I’m not by any means saying we are even remotely close to just where we want to be. So I want to make that clear. There’s quite a bit we still have to do, ” he said.
McKay says that the investment gives him newly added flexibility to decide when to take company public because anytime that happens it won’t will be because they need another fundraising event. “This raise allows us to set up with potent, highly reputable public purchasers, and it gives us all the financial resources to pick the right time to. We are in control of when we get and we will do it when it could be right, ” he believed.
