Security News > 2020 > January > Snyk is Latest Cybersecurity Unicorn After Adding $150 Million in Funding
Developer-focused cybersecurity solutions provider Snyk today announced a $150 million funding round, at a valuation of more than $1 billion, earning the company "Unicorn" status.
Snyk, which helps software developers discover and patch vulnerabilities in open source libraries and containers, has raised $250 million to date, including a $70 million investment round in September 2019.
In 2019, Snyk says its revenue jumped fourfold year-over-year, and added customers such as Google, Salesforce, Intuit, and New Relic.
"This investment accelerates Snyk's significant momentum in transforming the way application security is approached and delivered in software-driven enterprise organizations," said Peter McKay, Snyk CEO. Snyk isn't along in gaining unicorn status this month.
In early January, investment firm Insight Partners agreed to acquire IoT security firm Armis in a cash deal valuing the firm at $1.1 billion.