Accel leads $22m series-B for Snyk

Other participants in the funding round included GV and existing investors Boldstart Ventures and Heavybit.

With the latest round of funding, Snyk intends to expand from fixing vulnerable OSS components to protecting them in runtime. According to the firm, its upcoming offerings will help organisations regain control and visibility when running open-source libraries.

Philippe Botteri, partner at Accel Ventures, will be joining the Snyk board.

Previous funding
Boldstart Ventures, via Boldstart Ventures III, and Canaan Partners provided $3m of seed funding to London-based Snyk in 2016.

Boldstart and Canaan returned for a $7m series-A round for the firm in March 2018. Additional investors included Heavybit, FundFire, and Peter McKay, among others. The investment brought the total funds raised to date to $10m. 

Company
Founded in 2015 and based in London, Snyk is a developer of software for addressing vulnerabilities in open-source libraries. It integrates into the developer workflow, integrating with source control (for example, GitHub, BitBucket or GitLab), hooking into CI/CD pipelines and continuously monitoring PaaS and Serverless apps in production.

People
Accel Ventures – Philippe Botteri (partner).
Snyk – Guy Podjarny (CEO, co-founder).

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• Topics
• Early-stage
• UK / Ireland
• Technology
• United Kingdom
• Accel Ventures