Snyk's valuation rockets to $8.5 billion following $300 million funding
The Tel Aviv-based cybersecurity company has now raised a total of $770 million and almost doubled its valuation since its last funding round six months ago
CTech | 09:19 09.09.2021
Tel Aviv-based cybersecurity startup Snyk's valuation continues to surge, with the company announcing on Wednesday that it has reached a valuation of $8.5 billion after raising another $300 million. The company has now raised a total of $770 million since the beginning of 2020 when it was valued at a little over $1 billion. The latest round was co-led by Sands Capital Ventures and Tiger Global and follows a funding round in March when $175 million of new capital was raised. The company was valued at $4.7 billion only six months ago. The new funds will be used for product development and to improve its technology, the company said.