Funding round
Snyk Growth
Reported as "Growth Equity"
Snyk, which works in AI-Driven security platform development in Boston, raised $150M in a Growth round announced on 21 Jan 2020, led by Stripes, at a $1.00B post-money valuation. 10 firms took part. It is Snyk's fifth venture round on record; the one before was a Growth in Sep 2019.
$150M
Amount raised
$1.00B
Post-money valuation
$850M pre-money
10
Investors
1 lead
15%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Snyk at $1.00B after the new money. The $150M bought investors about 15% of the company. It came 4 months after Snyk's Growth. It is 10% of the $1.48B Snyk has raised in the venture rounds on record. Snyk raised again 8 months later: a Series D round of $200M in Sep 2020, at $2.60B 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 10 Sep 2019, led by Accel $70M
- Growth this round 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
Stripes led the round with 9 other firms.
Lead investor
- Stripes backs 101 venture-backed companies new investor
Also in the round
- Accel backs 581 venture-backed companies new investor
- Coatue backs 229 venture-backed companies new investor
- Tiger Global backs 391 venture-backed companies new investor
- backs 55 venture-backed companies new investor
- GV backs 428 venture-backed companies new investor
- backs 169 venture-backed companies new investor
- Trend Forward new investor
- backs 30 venture-backed companies new investor
- Salesforce Ventures backs 314 venture-backed companies new investor
Joined the board: Ken Fox (Stripes).
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 and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
246 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $41M, and this round was 3.7 times the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 9 Jan 2020 | $200M | not disclosed | CVC |
| Tech Companies | 9 Jan 2020 | $100M | $1.00B | Insight Partners |
| Tech Companies | 28 Jan 2020 | $91M | not disclosed | TELUS Ventures and McRock Capital |
| Tech Companies | 16 Jan 2020 | $54M | not disclosed | Bessemer Venture Partners |
| Tech Companies | 8 Jan 2020 | $50M | $240M | Accel-KKR |
| Tech Companies | 14 Jan 2020 | $40M | not disclosed | Sixth Street |
| Tech Companies | 30 Jan 2020 | $38M | not disclosed | Morgan Stanley |
| Tech Companies | 13 Jan 2020 | $20M | not disclosed | ORIX USA |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Snyk raise in its Growth round?
Snyk raised $150M in its Growth round, announced in Jan 2020.
Who led Snyk's Growth round?
Stripes led it, with Accel, Coatue, Tiger Global, Boldstart Ventures and GV and 4 more.
What was Snyk's valuation at the Growth round?
$1.00B post-money ($850M pre-money).
How does it compare with other Growth rounds in Tech Companies?
246 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $41M, and this round was 3.7 times the median.
Did Snyk raise again after this round?
Yes: a Series D round in Sep 2020 of $200M at $2.60B post-money.