SG’s cybersecurity firm Snyk raises $300m in Temasek-backed Series E round

Photo by Larry Teo on Unsplash

Singapore-headquartered cybersecurity company Snyk announced raising a total of $300 million in its Series E funding round backed by state investor Temasek, giving the firm a post-money valuation of $4.7 billion.

US venture capital firms Accel and Tiger Global co-anchored the funding round that included both primary and secondary offerings. Existing investors Addition, Boldstart Ventures, Canaan Partners, Coatue, GV (formally Google Ventures), Salesforce Ventures, Stripes, and funds managed by BlackRock also participated in the round. 

Alkeon, Atlassian Ventures, Franklin Templeton, Geodesic Capital, and Sands Capital Ventures came in as new investors, the startup announced.

Snyk said the Series E investment will allow it to further address the global demand for its Cloud Native Application Security Platform, which it claims is the only developer-first solution to provide security visibility and remediation for every critical component of modern applications.

To date, the company said its platform has enabled 2.2 million developers to build securely, with a vision to empower every modern developer in the world to develop fast and stay secure. It also works with global customers to empower developers to automatically integrate security throughout their existing workflows.

Snynk said there are an estimated 27 million software developers worldwide today and this number is expected to grow by 75 per cent in the upcoming decade.

“Our relentless focus on the experience of the 2.2 million developers building applications of all kinds securely with Snyk has resulted in our success to date, and we believe there is an exponential, generational opportunity still in front of us,” said the company’s CEO, Peter McKay.

With the fresh funding in its coffers, Snyk announced the hiring of chief marketing and customer experience officer Jeff Yoshimura; CIO Erica Geil; vice president, Asia Pacific Japan sales, Shaun McLagan; and the appointment of two new board members, Snowflake chief financial officer Michael Scarpelli and Accel partner Ping Li.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.