As the world becomes increasingly digital, cybersecurity has become a top priority for businesses and individuals alike. And with so much at stake, it’s no wonder that companies like Snyk are making headlines. According to sources, this cybersecurity firm is gearing up for an IPO as soon as mid-2022 – and if all goes according to plan, they’ll be looking to exceed their already impressive $8.6 billion valuation from September of last year. With such ambitious goals on the horizon, it’s clear that Snyk is a company worth keeping an eye on – but what sets them apart from other players in this crowded field? Let’s take a closer look.
Who is Snyk?
Snyk is a cybersecurity firm that is planning for an IPO in the near future. The company has a target to exceed its current $1.4B valuation from September Katie Roof Bloomberg. Snyk provides tools to help developers secure their code and applications. The company also offers guidance on how to avoid common security risks.
What is their product?
Snyk is a security platform that helps developers find and fix vulnerabilities in their code. The company offers a number of tools to help developers secure their applications, including a vulnerability database, a security scanner, and a dependency manager.
What are they doing to make an IPO happen?
Snyk, a cybersecurity startup, is making preparations for an initial public offering (IPO) as early as mid-2021. The company is looking to raise funds to accelerate its growth and expand its product offerings. Snyk has hired underwriters Goldman Sachs Group Inc. and Morgan Stanley to lead the offering, which could value the company at more than $3.5 billion.
Snyk was founded in 2015 by Guy Podjarny and Danny Grander with the aim of helping developers secure their code. The company provides a platform that helps developers find and fix security vulnerabilities in their codebases. Snyk also offers tools to help developers automate security testing and compliance checks.
In 2019, Snyk raised $150 million in a Series C funding round led by Accel Partners, valuating the company at $1.6 billion. Since then, the company has been on a tear, growing its revenue from $15 million in 2018 to an estimated $90 million in 2020. This growth has been driven by increased awareness of the need for cybersecurity solutions and the rise of remote work.
The IPO will give Snyk the resources it needs to continue its rapid growth and expansion into new markets. It will also provide a liquidity event for early investors and employees who have been with the company since its inception.
How much are they targeting to be worth in their IPO?
Snyk, a cybersecurity startup that provides tools to help developers secure their code, is targeting an initial public offering (IPO) as soon as mid-2021 that could value the company at more than $3 billion, according to people familiar with the matter.
The four-year-old company is working with Goldman Sachs Group Inc. and JPMorgan Chase & Co. on the plans, which are still in the early stages and could change, said the people, who asked not to be identified because the deliberations are private. A representative for Snyk declined to comment.
Snyk has raised about $350 million from investors including Accel Partners, Boldstart Ventures, and Salesforce Ventures. The Boston-based company was valued at $1.6 billion in September 2018 after its last funding round.
Why mid-2022?
Snyk’s recent successes in the cybersecurity market make it a prime candidate for an IPO in mid-2022. The company has seen rapid growth since its inception in 2015, and its valuation has more than tripled in the past year alone.
Snyk is a leader in the fast-growing world of application security, and its technology is used by some of the largest companies in the world. The company has raised over $300 million from investors, including Accel and Boldstart Ventures.
In September 2020, Snyk announced a $250 million Series D funding round, which valued the company at $1.4 billion. This made Snyk one of the fastest-growing enterprise software companies ever.
Now, sources close to the company say that it is preparing for an IPO as soon as mid-2022. The target valuation is said to be over $5 billion, which would make Snyk one of the most valuable tech companies in the world.
Snyk’s IPO would be a major event for the cybersecurity industry, and it would be a huge win for the company’s employees and investors.
Conclusion
With the cybersecurity market growing at an exponential rate, companies like Snyk are in a prime position to take advantage of this opportunity. Sources have indicated that Snyk is planning for an IPO as soon as mid-2022 and target a valuation that exceeds its current $8.6B mark from September. This news could make Snyk one of the most highly valued tech startups in 2021 and make it a shoo-in for success in 2022.
