Snyk Hits $8.5 Billion Valuation With Series F Round

• Published date: 21 September 2021
• Subject Matter: Corporate/Commercial Law, Government, Public Sector, Technology, M&A/Private Equity, Venture Capital, Corporate and Company Law, Government Contracts, Procurement & PPP, Security
• Law Firm: Cooley LLP
• Author: Cooley LLP

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 -...