Snyk

Snyk was founded in 2015 by Guy Podjarny (Hebrew: גיא פודחרני), Assaf Hefetz (אסף חפץ), and Danny Grander, (דני גרנדר) coming from Unit 8200, a SIGINT unit of the Israel Defense Forces.[https://www.ifi.today/news/2079-The-Israeli-cyber-company-Snyk-is-preparing-for-an.html, "THE ISRAELI CYBER COMPANY SNYK IS PREPARING FOR AN INITIAL PUBLIC OFFERING"], Israel Financial Insider, January 1, 2022[https://en.globes.co.il/en/article-israeli-cybersecurity-co-snyk-raises-150m-1001315680 "Israeli cybersecurity co Snyk raises $150m"], Globes, January 21, 2020 Podjarny started as CEO.

In July 2019, Peter McKay, one of the first investors, succeeded him, while Podjarny became president and chairman of the Board of Directors.{{Cite web |last=Miller |first=Ron |date=2019-07-17 |title=Snyk brings in new CEO to help lead future expansion |url=https://techcrunch.com/2019/07/17/snyk-brings-in-new-ceo-to-help-lead-future-expansion/?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAHWmuzkuL44m22f3CBhNoqCvuURnE3Kxmh3436WBU19PbORz39mwoVh50_KA0jraw5w17Ua2o-v21I6HM1Q7uEuE6FuaY4cFZz-r_R7ILQKPxTgdTUwiLpT7M6QV-9j3OYlGXjmfNPUQdUR7usIDM0vu7O8FhPxndpMBaPfIsjcz |access-date=2024-09-04 |website=TechCrunch |language=en-US}}

In 2022, the company had approximately 1,400 employees. It also has offices in Tel Aviv, Ottawa, Zurich and London.{{cite news |url= https://en.globes.co.il/en/article-cybersecurity-co-snyk-raises-300m-at-85b-valuation-1001384232

|title=Cybersecurity co Snyk raises $300m at $8.5b valuation|newspaper=Globes|date=9 September 2021 |access-date=2 December 2021}}{{cite web |url= https://www.comparably.com/news/one-team-an-interview-with-snyk-ceo-peter-mckay/|title=One Team: An Interview with Snyk CEO Peter McKay|publisher=Comparably|access-date=6 December 2021}}

Snyk acquisitions include:

• DeepCode (Sep-2020),{{cite news |last=Vizard | first=Mike |title=Snyk Acquires DeepCode to Apply AI to DevSecOps |url=https://devops.com/snyk-acquires-deepcode-to-apply-ai-to-devsecops/ |publisher=DevOps.com |date=2020-09-23 |accessdate=2024-11-12}} which provided what became Snyk Code, a product for static application security testing. Snyk Code is a cloud-based, AI-powered code review platform that checks, tests, and debugs code. It uses machine learning to check for mistakes in code. The platform currently supports Apex, C#, C/C++, Go, Java, JavaScript, Kotlin, PHP, Python, Ruby, Scala, Swift, TypeScript, and Visual Basic (.NET).{{Cite web|title=Supported languages, frameworks, and feature availability overview: Code analysis (Snyk Code)|url=https://docs.snyk.io/scan-using-snyk/supported-languages-and-frameworks/supported-languages-frameworks-and-feature-availability-overview#code-analysis-snyk-code|access-date=2023-11-16|website=Snyk Documentation|date=October 16, 2023 |language=en}}{{Cite news|last=Krill|first=Paul|date=2019-10-25|title=DeepCode taps AI for code reviews|url=https://www.infoworld.com/article/3448416/deepcode-does-ai-driven-code-reviews.html|access-date=2021-09-07|website=InfoWorld|language=en}}{{Cite web|title=ETH AI spin-off DeepCode acquired by a unicorn in cybersecurity|url=https://ethz.ch/en/news-and-events/eth-news/news/2020/09/deepcode.html|access-date=2021-09-07|website=ethz.ch|date=September 23, 2020 |language=en}}
• Manifold (Jan-2021),{{cite news |last=Moreira |first=Peter |title=Halifax’s Manifold Acquired by Snyk |url=https://entrevestor.com/home/entry/halifaxs-manifold-acquired-by-snyk |publisher=Entrevestor |date=2021-01-27 |accessdate=2024-11-12}} which was focused on software asset management.
• FossID (May-2021),{{cite news |last=Sawers |first=Paul |title=Snyk bolsters open source software security with FossID acquisition |url=https://venturebeat.com/business/snyk-bolsters-open-source-software-security-with-fossid-acquisition/ |publisher=VentureBeat |date=2021-05-21 |access-date=2024-11-12}} which provided vulnerability scanning in C/C++ applications and the capability to identify pieces of code copied from the internet, e.g., from Stackoverflow, which could contain vulnerabilities.{{cite news |last= Thomas |first= Winston |title=Why we need reimagine security cloud native |url=https://www.cdotrends.com/story/15853/why-we-need-reimagine-security-cloud-native |publisher=CDO Trends|date=3 September 2021|access-date=6 December 2021}} FossID was reacquired by the founders in Sep-2022 and is refocused on its core principles.{{cite web |title=FossID is Reacquired from Snyk by Original Founders to Renew Focus on Open Source License Compliance Risk |url=https://fossid.com/news/fossid-reacquired-from-snyk-by-original-founders/ |accessdate=2024-11-12}}
• CloudSkiff (Oct-2021),{{cite news |last=Hardcastle |first=Jessica Lyons |title=Snyk Buys CloudSkiff as $600M Burns Holes in Its Pockets |url= https://www.sdxcentral.com/articles/news/snyk-buys-cloudskiff-as-600m-burns-holes-in-its-pockets/2021/11/ |publisher=SDX Central |date=2021-11-03 |accessdate=2 December 2021}} which was known for its open-source tool for drift detection (detection of changes in the outside environment which may invalidate software infrastructure configuration, database setup, etc.).{{cite news |title=Snyk Agrees to Acquire CloudSkiff, Creators of driftctl |url=https://www.darkreading.com/application-security/snyk-agrees-to-acquire-cloudskiff-creators-of-driftctl |publisher=Dark Reading |date=29 October 2021 |access-date=2 December 2021}}
• Fugue (Feb-2022),{{cite news |last=Ehrlich |first=Chris |title=Snyk Acquires Developer Cloud Security Platform Fugue |url=https://www.datamation.com/applications/snyk-acquires-developer-cloud-security-platform-fugue/ |publisher=Datamation |date=2022-04-04 |accessdate=2024-11-12}} which provided cloud security posture management (CSPM) solutions.{{cite news |last=Alspach |first=Kyle |title=Snyk expands into cloud security with acquisition of Fugue |url=https://venturebeat.com/security/snyk-leaps-into-cloud-security-with-acquisition-of-fugue/ |date=2022-02-17 |accessdate=2024-11-12}}
• Probely (Nov-2024),{{ cite news |last=Alspach |first=Kyle |title=Snyk Expands API Security Testing With Acquisition Of Probely |url=https://www.crn.com/news/security/2024/snyk-expands-api-security-testing-with-acquisition-of-probely |publisher=CRN |date=2024-11-12 |accessdate=2024-11-12}} a start-up based in Porto, Portugal focused on dynamic application security testing (DAST).{{cite news |last=Novinson |first=Michael |title=Snyk Acquires Probely to Strengthen API Security for AI Apps |url=https://www.databreachtoday.com/snyk-acquires-probely-to-strengthen-api-security-for-ai-apps-a-26787 |publisher=Data Breach Today |date=2024-11-12 |accessdate=2024-11-12}}

In 2016, the company initially raised $3 million. In March 2018, its Series A funding was $7 million.{{cite web |url=https://techcrunch.com/2018/03/06/snyk-snares-7-million-investment-to-help-developers-secure-open-source-code/|title=Snyk snares $7 million investment to help developers secure open source code|date=March 6, 2018 |publisher=TechCrunch|access-date=2 December 2021}} In late 2019, it raised $70 million and a further $150 million in January 2020. In September 2021, a $300 million Series F funding round valued the company at $8.5 billion.{{cite news |last=Sawers |first=Paul |title=Open source security scanning platform Snyk raises $300M |url=https://venturebeat.com/2021/09/09/open-source-security-scanning-platform-snyk-raises-530m/ |publisher=VentureBeat |date=9 September 2021 |access-date=2 December 2021}}{{cite web |url=https://www.sdxcentral.com/articles/news/snyk-says-8-5b-valuation-validates-developer-security-vision/2021/09/|title=Snyk Says $8.5B Valuation 'Validates Developer-Security Vision'|publisher=SDX Central|access-date=2 December 2021}} This came six months after a valuation of $4.7 billion.{{cite web |url=https://techcrunch.com/2020/09/09/snyk-bags-another-200m-at-2-6b-valuation-9-months-after-last-raise/|title=Snyk bags another $200M at $2.6B valuation 9 months after last raise|date=September 9, 2020 |publisher=TechCrunch |access-date=6 December 2021}}{{cite web |url= https://techcrunch.com/2021/03/10/snyk-raises-300-million-at-a-4-7-billion-valuation-as-employees-cash-in-and-the-security-company-beefs-up/|title=Snyk raises $300 million at a $4.7 billion valuation as employees cash in and the security company beefs up|date=March 11, 2021 |publisher=TechCrunch|access-date=2 December 2021}} Qatar Investment Authority led the next funding round in December 2022, with Snyk raising close to $200 million.{{cite web |last=Primack |first=Dan |date=13 December 2022 |title=Security startup Snyk raises big money at smaller valuation |url=https://www.axios.com/2022/12/13/security-startup-snyk-raises-big-money-at-smaller-valuation |website=Axios}}

In December 2021, Bloomberg reported that Snyk was preparing for an IPO in 2022.Catie Roof, [https://www.bloomberg.com/news/articles/2021-12-23/cybersecurity-startup-snyk-is-said-to-plan-2022-ipo "Cybersecurity Startup Snyk Is Said to Plan 2022 IPO"], Bloomberg, December 23, 2021

In January 2023, ServiceNow Inc. invested $25 million in Snyk.{{Cite news |last=Lin |first=Belle |date=2023-01-24 |title=Cyber Startup Snyk Raises $25 Million From ServiceNow |language=en-US |work=Wall Street Journal |url=https://www.wsj.com/articles/cyber-startup-snyk-raises-25-million-from-servicenow-11674521353 |access-date=2023-12-04 |issn=0099-9660}}

The company's security products are designed to help software developers find weaknesses, violations, and vulnerabilities in their code.{{cite news |url= https://en.globes.co.il/en/article-cybersecurity-co-snyk-raises-300m-at-85b-valuation-1001384232|title=Cybersecurity co Snyk raises $300m at $8.5b valuation|newspaper=Globes|date=9 September 2021 |access-date=2 December 2021}} The company's vulnerability database records security issues found in open-source software libraries, and corrects the code.{{cite web |url=https://www.theregister.com/2021/09/07/guy_podjarny_snyk/

|title=Snyk: 50% of security jobs unfilled… any solution predicated on devs 'becoming security experts is doomed'|publisher=The Register|access-date=6 December 2021}}{{cite news |url=https://www.wsj.com/articles/snyks-skyrocketing-valuation-reflects-growing-interest-in-late-stage-enterprise-businesses-11579650334|title=Snyk's Skyrocketing Valuation Reflects Growing Interest in Late-Stage Enterprise Businesses|newspaper=Wall Street Journal |date=21 January 2020 |publisher=Wall St Journal|access-date=6 December 2021|last1=Chernova |first1=Yuliya }}{{cite web |url=https://www.uktech.news/cybersecurity/uk-founded-security-unicorn-snags-75m-for-digital-transformation-20211001|title=UK-founded security unicorn snags $75M for digital transformation|date=October 2021 |publisher=UKTN|access-date=6 December 2021}} Security vulnerabilities are identified and addressed during the development process, before the software product is in use.{{cite web |url=https://siliconangle.com/2021/12/01/snyk-takes-application-security-to-the-developers-doorstep-reinvent/|title=Snyk takes application security to the developer's doorstep|date=December 2021 |publisher=Silicon Angle|access-date=6 December 2021}}{{cite web |url=https://www.bostonglobe.com/2021/09/09/business/local-cybersecurity-startup-snyk-attracts-530-million-new-cash/|title=Local cybersecurity startup Snyk attracts $530 million in new cash|publisher=Boston Globe|access-date=6 December 2021}}

{{reflist}}

• {{Official website|https://www.snyk.io/}}

Category:Computer security companies

Category:Companies based in Boston

Category:American companies established in 2015

Category:Israeli companies established in 2015