Snyk company profile: valuation, funding & revenue

This Snyk company profile covers the company's valuation, revenue, funding rounds, investors and history. Snyk works in cybersecurity, with a focus on developer-first application security. It was founded in 2015 and is headquartered in Boston, Massachusetts, United States. Its latest valuation on record is US$7.4 billion (December 2022). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.

Revenue

About US$278 million — Annual revenue, 2024 (from UK public filings as reported), as of 2024. Source: BankInfoSecurity.

Funding history

Snyk timeline

Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.

• 2015 — Snyk is founded in Boston by Guy Podjarny, Assaf Hefetz and Danny Grander.
• Sep 2021 — Series F: US$530M, valuing the company at US$8.5B. Investors: Sapphire Ventures (lead).
• Dec 2022 — Series G: About US$196.5M, valuing the company at US$7.4B. Investors: Qatar Investment Authority (lead).
• 2026 — Investor markdown: BlackRock reportedly marked its stake at a level implying about US$3.7 billion.
• February 2026 — Estimated ARR: About US$326 million, growing about 7% a year (third-party estimate).

Investors

Overview

Snyk sells security tools designed for software developers. Its products scan code, open-source dependencies, container images and infrastructure configuration files for vulnerabilities, and suggest fixes directly in the tools developers already use, such as code editors, GitHub and build pipelines. The idea, often called "shifting security left", is to catch security problems while code is being written rather than after it reaches production, when fixes are slower and more expensive. Snyk became one of the best-known names in application security and one of the most valuable private cybersecurity companies during the 2021 boom.

Guy Podjarny, Assaf Hefetz and Danny Grander founded Snyk in London in 2015. Podjarny had previously co-founded Blaze, a web performance company acquired by Akamai, and Hefetz and Grander had backgrounds in Israeli military cybersecurity units. Snyk later moved its headquarters to Boston, with large teams in London, Tel Aviv and elsewhere. Peter McKay, previously a senior executive at Veeam and VMware, became CEO in 2019 and led its rapid expansion.

Products

• Snyk Open Source: finds known vulnerabilities and licence issues in open-source libraries that applications depend on.
• Snyk Code: static analysis that scans a company's own code for security flaws.
• Snyk Container: scans container images for vulnerable components.
• Snyk IaC: checks infrastructure-as-code files for risky cloud configurations.
• AppRisk and AI security: tools to prioritise risks across a company's applications and to secure AI-generated code and AI applications, expanded through acquisitions such as Invariant Labs.

Funding and valuation

Snyk raised more than US$1 billion in total. A US$530 million Series F in September 2021 valued it at US$8.5 billion. In December 2022 it raised a Series G of about US$196.5 million led by the Qatar Investment Authority at US$7.4 billion, a slight decline. Other investors include Accel, GV, Coatue, Tiger Global, Sapphire Ventures, BlackRock, Salesforce Ventures and Boldstart Ventures. Since then, investor marks have fallen: research firm Sacra reported that BlackRock valued its holding at a level implying about US$3.7 billion. We show the last priced round in the fact tiles and list the markdown separately.

Revenue and growth

Snyk doesn't publish full financials, but its UK filings provide some data. BankInfoSecurity reported revenue of about US$278 million for 2024 based on those filings. Sacra estimated annual recurring revenue at about US$326 million in February 2026, growing about 7% a year, down from around 27% a year earlier. Slower growth is a key reason its valuation has fallen and its IPO plans have been delayed; McKay had said he favoured a US listing, but market conditions and growth have made the timing uncertain.

Competition

Snyk competes with application security vendors such as Checkmarx, Veracode, Sonatype, Mend, Semgrep and Endor Labs; with GitHub's own security features, which are bundled with a platform most developers already use; and with cloud security platforms such as Wiz and Palo Alto Networks that have added code scanning. Bundling by large platforms is a particular threat, because customers may prefer "good enough" features included in tools they already pay for.

Snyk at a glance

Snyk is a Boston-headquartered developer security company founded in London in 2015 by Guy Podjarny, Assaf Hefetz and Danny Grander. It scans code, dependencies, containers and infrastructure for vulnerabilities. It was valued at US$8.5 billion in 2021 and US$7.4 billion in December 2022; later investor marks implied about US$3.7 billion. UK filings showed about US$278 million in 2024 revenue.

Why open-source security matters

Modern applications are built largely from open-source components: a typical application may include hundreds of libraries, each of which may depend on others. A vulnerability in one widely used library can affect millions of applications, as the Log4Shell flaw in the Log4j logging library showed in 2021. Supply chain attacks, where attackers compromise a popular package to reach the companies that use it, have become more common. Tools that track dependencies and flag vulnerable versions have become standard requirements for security teams.

AI-generated code and security

AI coding assistants now write a large and growing share of code. That code can contain security flaws, outdated dependencies or insecure patterns, and developers may review it less carefully than code they write themselves. At the same time, AI models can help find and fix vulnerabilities faster. Application security vendors, including Snyk, are repositioning around securing AI-written code and AI applications. Whether this shift revives growth will be crucial for Snyk's future valuation.

Questions for security and engineering teams

• How accurate are the findings, and how many false positives will developers see?
• How well does the tool integrate with your repositories, editors and pipelines?
• Does it prioritise issues based on whether vulnerable code is actually reachable?
• How does pricing compare with security features bundled in your existing platforms?

How Snyk built its business

Snyk grew with a product-led strategy: developers could sign up for free, connect a code repository and see vulnerabilities within minutes. Once individual developers and teams were using it, Snyk's sales team sold paid plans and enterprise contracts to their companies. Its large database of open-source vulnerabilities, partly built by its own security researchers, became a valuable asset. This bottom-up approach helped it grow quickly in the late 2010s and early 2020s, but it also meant competing for developer attention with free tools and features bundled by platforms such as GitHub.

Acquisitions

Snyk has used acquisitions to add capabilities, including companies focused on cloud security, dynamic application testing and, more recently, AI security. Integrating these products into one platform has been part of its strategy to sell broader contracts to large enterprises, which increasingly prefer fewer security vendors.

Latest developments (October 2026)

Snyk's growth has slowed. Research firm Sacra estimates annual recurring revenue of about US$326 million in February 2026, up only about 7% from a year earlier. Chief executive Peter McKay announced he would step down, saying ARR had passed US$325 million, according to IT Channel Oxygen. Snyk is repositioning around security for AI-generated code and AI agents. Its 2022 valuation of US$7.4 billion is now dated. See our cybersecurity unicorns guide.

What to watch

Watch ARR growth, AI security product traction, any new funding or acquisition approaches, IPO timing and further changes in investor marks.

Takeaways

Engineering teams can catch vulnerabilities earlier in development. Founders can see how slowing growth affects valuations even for category leaders. Investors should compare the 2022 round with later marks and current growth.

Sources

Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.

1. Sacra
2. BankInfoSecurity
3. Sacra