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Mateo Bell
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Snyk Is Latest Cybersecurity Unicorn After Adding $150 Million In Funding

Meanwhile, Boston-based Cybereason in early June said it has laid off 10 percent of its workforce only four months after it confidentially filed for an IPO and less than a year after it raised an additional $325 million in funding.

Snyk is Latest Cybersecurity Unicorn After Adding $150 Million in Funding

Last week, blockchain company Starkware raised $100 million at a valuation of $8 billion, in Series D funding that came six months after its previous round valued the company at $2 billion. The round was led by Greenoaks Capital and Coatue, and included Tiger Global.

Boston-based application security company Snyk has raised $300 million in a Series E round, bringing the company's valuation to $4.7 billion. The round was co-led by Accel and Tiger Global, with participation from Alkeon, Atlassian Ventures, Franklin Templeton, Geodesic Capital, Sands Capital Ventures, and Temasek, as well as existing investors Addition, Boldstart Ventures, Canaan Partners, Coatue, GV (formerly Google Ventures), Salesforce Ventures, Stripes, and funds managed by BlackRock. The company's CEO Peter McKay stated, "This latest investment allows us to accelerate our growth at every level - doubling down on our successful product led growth strategy, adding to our customer roster, recruiting talent to our team worldwide and expanding geographically." Snyk also "announced the hiring of Chief Marketing and Customer Experience Officer Jeff Yoshimura, CIO Erica Geil, Vice President, Asia Pacific Japan (APJ) Sales, Shaun McLagan, and the appointment of two new Board Members, Michael Scarpelli, Chief Financial Officer, Snowflake, and Ping Li, Partner, Accel."

ActZero, from Menlo Park in California's Silicon Valley, a managed detection and response firm for small- to medium-sized businesses, has emerged from stealth with $40 million in funding from Point72 Hyperscale. The company added, "Last year, ActZero acquired IntelliGO Networks, a Toronto-based cybersecurity services firm. As part of the launch, IntelliGO has been rebranded as ActZero to reflect that the firm now offers a unified, AI-driven security platform."

"The UK is a mature ecosystem that's growing like an extremely nascent one," wrote George Windsor, head of insights at TechNation, which compiled the "astonishing" figures. Cybersecurity firm Snyk is now valued at $8.6 billion after a Series F funding round in September, while visual AI firm Tractable became a unicorn in 2021.

Funding: Cockroach Labs raised $160 million Series E funding on January 12, 2021. The round comes just eight months after the start-up brought in $86.6 million Series D funding and leaves the company valued at about $2 billion.

Deliveroo was valued at $2 billion in June 2018 - and its latest funding round in January 2021, saw $180 million raised, taking their total raised to $1.7bn. In March 2021, Deliveroo was listed on the London Stock Exchange with a valuation of 7.6 billion.


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