Snyk, a code security startup, raised $75 million from investors that included Salesforce Ventures and Atlassian Ventures, in addition to a $530 million funding round it announced earlier last month. The $530 million round put the Boston-based Snyk’s value at $8.5 billion.
With the $75 million funding round from Salesforce and Atlassian, the startup announced its value rose to $8.6 billion.
Atlassian and Salesforce are among many premier tech firms that use the startup’s cybersecurity tool, which helps developers find flaws in their code. Numerous similar products make similar claims but don’t attract the same level of attention.
What sets Snyk apart?
The startup managed to rise head and shoulders above competitors because its tool can tell you if a snippet of code contains cybersecurity issues, prioritize what it finds based on urgency, and recommend how to fix each one.
Over the past couple of years, Snyk has enhanced the feature set to related efforts. Its tool can detect software vulnerabilities and misconfigurations in infrastructure settings that could expose a cloud environment to attacks.
In addition to that, Snyk helps developers make sure they are using secure open-source components in their projects in compliance with the components’ licensing terms.
A well-liked offering
Snyk’s tool has proven to be a favorite in the developer community, with the startup saying the software has millions of users worldwide. The tool’s popularity among software teams is likely why Atlassian participated in the investment.
The company intends to deliver integrations with Snyk across its Jira Software, Compass, and Jira Service offerings. Salesforce uses the tool internally and has a large presence in the developer community, providing tools that companies use to build custom apps on top of cloud platforms.
To date, Snyk has raised $850 million in funding.