Funding round
Snyk Series B
Snyk, which works in AI-Driven security platform development in Boston, raised $22M in a Series B round announced on 25 Sep 2018, led by Accel. 4 firms took part, 2 of them already investors. It is Snyk's third venture round on record; the one before was a Series A in Mar 2018.
$22M
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 6 months after Snyk's Series A. It is 1.5% of the $1.48B Snyk has raised in the venture rounds on record. Snyk raised again 12 months later: a Growth round of $70M in Sep 2019. 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 6 Mar 2018, led by Boldstart Ventures and Canaan $7.0M
- Series B this round 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
Accel led the round with 3 other firms. Boldstart Ventures and Heavybit had backed Snyk before.
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, sales and marketing, scaling operations and working capital.
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
460 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $20M, and this round was close to the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 10 Sep 2018 | $57M | not disclosed | KKR |
| Tech Companies | 25 Sep 2018 | $40M | not disclosed | not named |
| Tech Companies | 18 Sep 2018 | $30M | not disclosed | Norwest |
| Tech Companies | 11 Sep 2018 | $25M | not disclosed | General Catalyst |
| Tech Companies | 11 Sep 2018 | $21M | not disclosed | Inven Capital |
| Tech Companies | 27 Sep 2018 | $21M | not disclosed | M12 |
| Tech Companies | 18 Sep 2018 | $20M | not disclosed | GV |
| Tech Companies | 30 Sep 2018 | $18M | not disclosed | Redpoint Ventures |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did Snyk raise in its Series B round?
Snyk raised $22M in its Series B round, announced in Sep 2018.
Who led Snyk's Series B round?
Accel led it, with GV, Boldstart Ventures and Heavybit.
What was Snyk's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Tech Companies?
460 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $20M, and this round was close to the median.
Did Snyk raise again after this round?
Yes: a Growth round in Sep 2019 of $70M.