London - September 15, 2021 - Cooley advised Snyk, a cybersecurity software startup, on its $530 million Series F financing, which brings the company's valuation to $8.5 billion. Lawyers Ryan Naftulin, Kerry Corrigan and Mark Jones led the Cooley team advising Snyk.
The transaction included both primary and secondary offerings with more than $300 million of new capital. Sands Capital Ventures and Tiger Global co-led the round, which included participation from Baillie Gifford, Koch Strategic Platforms, Lone Pine Capital, T. Rowe Price and Whale Rock Capital Management, as well as existing investors Accel, Addition, Alkeon, Atlassian Ventures, funds managed by BlackRock, Boldstart Ventures, Canaan Partners, Coatue, Franklin Templeton, Geodesic Capital, Salesforce Ventures and Temasek. The investment will accelerate the industry's shift to developer security as organizations rapidly modernize their applications with security built into the entire software development life cycle.
"This new investment, together with the rapid adoption of our platform and growing customer base, validates our developer security vision," Peter McKay, CEO of Snyk, said in a news release. "When security starts with the world's expanding pool of developers - estimated to reach 45 million by 2030 -organizations of all sizes will be able to truly reap the rewards of digital transformation, while also making the world's software safer."
Snyk is the leader in developer security. It empowers the world's developers to build secure applications and equip security teams to meet the demands of the digital world. Snyk's developer-first approach ensures organizations can secure all the critical components of their applications from code to cloud, leading to increased developer productivity, revenue growth, customer satisfaction, cost savings and an overall improved security posture.
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