Israeli security vendor Synk has bagged $196.5m from investors to fuel its continued growth in 2023 and beyond.
The additional Series G funding, which was led by QIA (Qatar Investment Authority), increases its valuation to $7.4bn.
Synk will use the capital to drive the innovation of its Developer Security Platform through organic or acquisitional growth.
Peter McKay, CEO, Snyk, said: “Snyk achieved a 100% year-over-year increase in revenue as well as net revenue retention of over 130%. In 2023, we look forward to leveraging this latest investment to continue enhancing our platform and help more global enterprises reap the benefits of DevSecOps.”
The firm also saw participation from a consortium of new investors including Evolution Equity Partners, G Squared and Irving Investors as well as existing investors boldstart ventures, Sands Capital and Tiger Global.
