Funding round
Snyk Series A
Snyk, which works in AI-Driven security platform development in Boston, raised $7.0M in a Series A round announced on 6 Mar 2018, led by Boldstart Ventures and Canaan. 4 firms took part, with 1 individual investor. It is Snyk's second venture round on record; the one before was a Seed in Jan 2016.
$7.0M
Amount raised
Not disclosed
Post-money valuation
4
Investors
2 leads
Valuation
What this round says about the price
Snyk did not disclose a valuation in this round. It came 26 months after Snyk's Seed. It is under 1% of the $1.48B Snyk has raised in the venture rounds on record. Snyk raised again 6 months later: a Series B round of $22M in Sep 2018. Its next priced round, a Growth in Jan 2020, valued it at $1.00B.
Snyk's funding rounds
Snyk has 9 venture rounds on record. This one is highlighted.
- Seed 1 Jan 2016 $3.0M
- Series A this round 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 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
Boldstart Ventures and Canaan led the round with 2 other firms.
Lead investors
- backs 55 venture-backed companies new investor
- backs 169 venture-backed companies new investor
Also in the round
- Heavybit new investor
- FundFire new investor
Individual investors: Peter McKay. Joined the board: Peter McKay (Veeam).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
772 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $8.0M, and this round was close to the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| SambaNova Tech Companies | 15 Mar 2018 | $56M | not disclosed | GV and Walden International |
| Tech Companies | 14 Mar 2018 | $20M | not disclosed | Singtel Innov8 |
| Tech Companies | 22 Mar 2018 | $20M | not disclosed | Burda Principal Investments |
| Tech Companies | 29 Mar 2018 | $20M | not disclosed | Renewal Funds |
| Tech Companies | 30 Mar 2018 | $17M | not disclosed | Spark Capital and Foundry |
| Tech Companies | 14 Mar 2018 | $16M | not disclosed | Mayfield and Shasta Ventures |
| Tech Companies | 27 Mar 2018 | $16M | not disclosed | OpenView and Trinity Ventures |
| Tech Companies | 13 Mar 2018 | $15M | $59M | Venrock |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Snyk raise in its Series A round?
Snyk raised $7.0M in its Series A round, announced in Mar 2018.
Who led Snyk's Series A round?
Boldstart Ventures and Canaan led it, with Heavybit and FundFire.
What was Snyk's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Tech Companies?
772 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $8.0M, and this round was close to the median.
Did Snyk raise again after this round?
Yes: a Series B round in Sep 2018 of $22M.