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Snyk, the company that wants to help developers secure their code as part of the development process, announced a $150 million investment today. The company indicated the investment brings the company valuation to over $1 billion (although it did not share the exact figure).
Today’s round was led by Stripes, a New York City investment firm with Coatue, Tiger Global, BoldStart,Trend Forward, Amity and Salesforce Ventures also participating. The company reports it has now raised over $250 million.
Idea - Snyk - Security - Development - Process
The idea behind Snyk is to fit security firmly in the development process. Rather than offloading it to a separate team, something that can slow down a continuous development environment, Snyk builds in security as part of the code commit.
The company offers an open source tool helps developers find open source vulnerabilities when they commit their code to GitHub, Bitbucket, GitLab or any CI/CD tool. It has built up a community of over 400,000 developers with this approach.
Snyk - Money - Container - Security - Product
Snyk makes money with a container security product, and by making the underlying vulnerability database they use in the open source product available to companies as a commercial product.
CEO Peter McKay, who came on board last year as the company was making a move to expand into the enterprise, says the open source...
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