Funding round
Snyk Growth
Reported as "Growth Equity"
Snyk, which works in AI-Driven security platform development in Boston, raised $70M in a Growth round announced on 10 Sep 2019, led by Accel. 4 firms took part, 3 of them already investors. It is Snyk's fourth venture round on record; the one before was a Series B in Sep 2018.
$70M
Amount raised
Not disclosed
Post-money valuation
4
Investors
1 lead
Valuation
What this round says about the price
Snyk did not disclose a valuation in this round. It came 12 months after Snyk's Series B. It is 4.7% of the $1.48B Snyk has raised in the venture rounds on record. Snyk raised again 4 months later: a Growth round of $150M in Jan 2020, at $1.00B post-money.
Snyk's funding rounds
Snyk has 9 venture rounds on record. This one is highlighted.
- Seed 1 Jan 2016 $3.0M
- Series A 6 Mar 2018, led by Boldstart Ventures and Canaan $7.0M
- Series B 25 Sep 2018, led by Accel $22M
- Growth this round 10 Sep 2019, led by Accel $70M
- Growth 21 Jan 2020, led by Stripes $150M$1.00B post-money
- Series D 9 Sep 2020, led by Addition $200M$2.60B post-money
- Series E 10 Mar 2021, led by Accel and Tiger Global $300M$4.70B post-money
- Series F 9 Sep 2021, led by Sands Capital and Tiger Global $530M$8.50B post-money
- Series G 13 Dec 2022, led by Qatar Investment Authority $197M$7.40B post-money
Investors
Who put money in
Accel led the round with 3 other firms. Accel, GV and Boldstart Ventures had backed Snyk before.
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations, acquisitions and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
233 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $40M, and this round was 1.8 times the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 25 Sep 2019 | $388M | not disclosed | Wells Fargo Capital Finance |
| Tech Companies | 18 Sep 2019 | $147M | $1.00B | Goldman Sachs |
| Tech Companies | 12 Sep 2019 | $90M | not disclosed | Sixth Street |
| Tech Companies | 10 Sep 2019 | $45M | not disclosed | Mithril |
| Tech Companies | 9 Sep 2019 | $40M | not disclosed | Summit Partners |
| Tech Companies | 25 Sep 2019 | $25M | not disclosed | not named |
| Tech Companies | 23 Sep 2019 | $14M | not disclosed | Bpifrance and Crédit Mutuel Innovation |
| Tech Companies | 5 Sep 2019 | $10M | not disclosed | Edison Partners |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Snyk raise in its Growth round?
Snyk raised $70M in its Growth round, announced in Sep 2019.
Who led Snyk's Growth round?
Accel led it, with GV, Boldstart Ventures and Heavybit.
What was Snyk's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Tech Companies?
233 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $40M, and this round was 1.8 times the median.
Did Snyk raise again after this round?
Yes: a Growth round in Jan 2020 of $150M at $1.00B post-money.