Funding round
Snyk Series F
Snyk, which works in AI-Driven security platform development in Boston, raised $530M in a Series F round announced on 9 Sep 2021, led by Sands Capital and Tiger Global, at a $8.50B post-money valuation. 19 firms took part, 14 of them already investors. It is Snyk's eighth venture round on record; the one before was a Series E in Mar 2021.
$530M
Amount raised
$8.50B
Post-money valuation
19
Investors
2 leads
1.8x
Step-up from the Series E
$4.70B in Mar 2021
6.2%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Snyk at $8.50B after the new money, 1.8 times the $4.70B of its Series E (Mar 2021). The $530M bought investors about 6.2% of the company. It came 6 months after Snyk's Series E. It is 36% of the $1.48B Snyk has raised in the venture rounds on record. Snyk raised again 15 months later: a Series G round of $197M in Dec 2022, at $7.40B 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 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 this round 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
Sands Capital and Tiger Global led the round with 17 other firms. Sands Capital, Tiger Global, Accel and Addition and 10 more had backed Snyk before.
Lead investors
- Sands Capital backs 71 venture-backed companies existing investor
- Tiger Global existing investor
Also in the round
- Baillie Gifford new investor
- Koch Strategic Platforms new investor
- Lone Pine Capital new investor
- T. Rowe Price new investor
- Whale Rock Capital Management new investor
- Accel backs 581 venture-backed companies existing investor
- Addition existing investor
- Alkeon backs 51 venture-backed companies existing investor
- Atlassian Ventures existing investor
- BlackRock existing investor
- backs 55 venture-backed companies existing investor
- backs 169 venture-backed companies existing investor
- Coatue backs 229 venture-backed companies existing investor
- Franklin Templeton existing investor
- Geodesic Capital backs 45 venture-backed companies existing investor
- Salesforce Ventures backs 314 venture-backed companies existing investor
- Temasek backs 195 venture-backed companies existing 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, acquisitions and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
45 Series F rounds in Tech Companies within a year either side disclosed an amount; the median was $170M, and this round was 3.1 times the median. The closest in time, other companies' Series F rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 13 Sep 2021 | $159M | $2.56B | Sapphire Ventures |
| VideoAmp Tech Companies | 21 Oct 2021 | $275M | $1.40B | Spruce House Partnership |
| Rebel Foods Tech Companies | 7 Oct 2021 | $175M | $1.40B | Qatar Investment Authority |
| Patreon Tech Companies | 26 Aug 2021 | $155M | $4.00B | not named |
| Tech Companies | 5 Oct 2021 | $100M | not disclosed | Great Hill Partners |
| Tech Companies | 28 Jul 2021 | $175M | $3.00B | Tiger Global |
| Arctic Wolf Tech Companies | 13 Jul 2021 | $150M | $4.30B | Viking Global and Blue Owl Capital |
| Tech Companies | 27 Jul 2021 | $150M | $2.60B | B Capital |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did Snyk raise in its Series F round?
Snyk raised $530M in its Series F round, announced in Sep 2021.
Who led Snyk's Series F round?
Sands Capital and Tiger Global led it, with Baillie Gifford, Koch Strategic Platforms, Lone Pine Capital, T. Rowe Price and Whale Rock Capital Management and 12 more.
What was Snyk's valuation at the Series F round?
$8.50B post-money.
How does it compare with other Series F rounds in Tech Companies?
45 Series F rounds in Tech Companies within a year either side disclosed an amount; the median was $170M, and this round was 3.1 times the median.
Did Snyk raise again after this round?
Yes: a Series G round in Dec 2022 of $197M at $7.40B post-money.