Snyk

Snyk is a cybersecurity company specializing in cloud computing. It was founded in 2015 out of London and Tel Aviv with headquarters in Boston.

History
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. Podjarny started as CEO. Peter McKay, one of the first investors, succeeded him in July 2019. Podjarny became president and chairman of the Board of Directors.

In 2022, the company had approximately 1,400 employees. It also has offices in Tel Aviv, Ottawa, Zurich and London.

In 2020, it was listed as 39th in the Forbes Cloud 100.

In November 2023, Snyk partnered with SentinelOne Inc. to integrate Snyk's Developer Security Platform with SentinelOne's Singularity Cloud Workload Security platform to improve cloud security.

Acquisitions
Snyk acquired companies including DeepCode, Manifold, FossID and CloudSkiff.

DeepCode 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).

FossID scans and looks for vulnerabilities in C/C++ applications and offers the capability to identify pieces of code copied from the internet, e.g., from Stackoverflow, which could contain vulnerabilities.

CloudSkiff 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.).

Financing
In 2016, the company initially raised $3 million. In March 2018, its Series A funding was $7 million. In late 2019, it raised $70 million and a further $150 million in January 2020. In September 2021, a Series F funding round valued the company at $8.5 billion. This came six months after a valuation of $4.7 billion. Qatar Investment Authority led the next funding round in December 2022, with Snyk raising close to $200 million.

In December 2021, Bloomberg reported that Snyk was preparing for an IPO in 2022.

In January 2023, ServiceNow Inc. invested $25 million in Snyk.

Products
The company's security products are designed to help software developers find weaknesses, violations, and vulnerabilities in their code. The company's vulnerability database records security issues found in open-source software libraries, and corrects the code. Security vulnerabilities are identified and addressed during the development process, before the software product is in use.

In 2023, Snyk launched an app, Snyk AppRisk to help developers and teams collaborate with and monitor cybersecurity problems.