ServiceNow announced a strategic investment in Snyk. The startup focuses on helping developers detect and fix code vulnerabilities. The Wall Street Journal reported that the investment is worth $25 million.
ServiceNow’s investment isn’t just about the money. The company also built an integration of Snyk’s vulnerability detection software, making it easier for joint customers to fix security issues in applications.
“For Snyk, this latest ServiceNow investment represents much more than pure capital”, said Snyk CEO Peter McKay. “First as a customer, then as a partner and now as a strategic investor, the ServiceNow team has proven their determination to shift enterprises away from slow, burdensome legacy cybersecurity approaches.”
A strategic move
ServiceNow provides a cloud platform that companies use to deliver technical support to employees and customers. Features include detecting infrastructure malfunctions and onboarding new hires.
Snyk develops a set of popular tools for detecting vulnerabilities in software code. The company’s software is used by over 2,500 organizations, including Google, Salesforce, and other major technology firms.
ServiceNow’s new integration connects its platform to Snyk’s Open Source tool, which automatically detects vulnerabilities in open-source components and alerts developers.
With the integration, joint customers can resolve security issues in software applications faster. “It brings Snyk into a popular platform that governs how IT is serviced, resulting in thousands of enterprises being able to bolster their overall security posture through effective DevSecOps collaboration”, said Snyk CPO Manoj Nair.
Alongside its detection tool for open-source vulnerabilities, Snyk offers several other cybersecurity solutions, including a tool that scans code for vulnerabilities as it’s written to immediately help developers mitigate risks.