Funding round
Snyk Series D
Snyk, which works in AI-Driven security platform development in Boston, raised $200M in a Series D round announced on 9 Sep 2020, led by Addition, at a $2.60B post-money valuation. 11 firms took part. It is Snyk's sixth venture round on record; the one before was a Growth in Jan 2020.
$200M
Amount raised
$2.60B
Post-money valuation
$2.40B pre-money
11
Investors
1 lead
2.6x
Step-up from the Growth
$1.00B in Jan 2020
7.7%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Snyk at $2.60B after the new money, 2.6 times the $1.00B of its Growth (Jan 2020). The $200M bought investors about 7.7% of the company. It came 8 months after Snyk's Growth. It is 14% of the $1.48B Snyk has raised in the venture rounds on record. Snyk raised again 6 months later: a Series E round of $300M in Mar 2021, at $4.70B 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 21 Jan 2020, led by Stripes $150M$1.00B post-money
- Series D this round 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
Addition led the round with 10 other firms.
Lead investor
- Addition new investor
Also in the round
- Accel backs 581 venture-backed companies new investor
- backs 30 venture-backed companies new investor
- backs 55 venture-backed companies new investor
- backs 169 venture-backed companies new investor
- Coatue backs 229 venture-backed companies new investor
- GV backs 428 venture-backed companies new investor
- Salesforce Ventures backs 314 venture-backed companies new investor
- Stripes backs 101 venture-backed companies new investor
- Tiger Global backs 391 venture-backed companies new investor
- Trend Forward new investor
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
179 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $80M, and this round was 2.5 times the median. The closest in time, other companies' Series D rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Attentive Tech Companies | 23 Sep 2020 | $230M | $2.20B | Coatue |
| Tech Companies | 14 Sep 2020 | $185M | $2.58B | Thrive Capital |
| Tech Companies | 30 Sep 2020 | $102M | not disclosed | not named |
| Devo Tech Companies | 15 Sep 2020 | $60M | not disclosed | Georgian |
| Tech Companies | 24 Sep 2020 | $50M | not disclosed | Great Hill Partners |
| Gong Tech Companies | 12 Aug 2020 | $200M | $2.20B | Coatue |
| Tech Companies | 27 Oct 2020 | $125M | $1.00B | General Catalyst |
| Dataiku Tech Companies | 1 Aug 2020 | $100M | not disclosed | Stripes |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Snyk raise in its Series D round?
Snyk raised $200M in its Series D round, announced in Sep 2020.
Who led Snyk's Series D round?
Addition led it, with Accel, Amity Ventures, Boldstart Ventures, Canaan and Coatue and 5 more.
What was Snyk's valuation at the Series D round?
$2.60B post-money ($2.40B pre-money).
How does it compare with other Series D rounds in Tech Companies?
179 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $80M, and this round was 2.5 times the median.
Did Snyk raise again after this round?
Yes: a Series E round in Mar 2021 of $300M at $4.70B post-money.