Snyk Secures $7 Million in Series A Round

Snyk, a solution for addressing vulnerabilities in open source libraries, is announcing it has closed a $7 million Series A round of funding, led by Boldstart Ventures and Canaan Partners. Additional investors include Heavybit, FundFire, and Peter McKay, among others.

Snyk aims to help companies use open source code and stay secure. According to the company, its platform is the only solution that seamlessly and proactively fixes found issues, relying on its extensive proprietary vulnerability database, maintained by its security research team in Israel. Its current customers include Auth0, Digital Ocean, and Skyscanner.

The Series A round will be used to help Snyk deploy additional product offerings to improve the secure usage of open source for developers. The company also plans to continue leading the adoption of DevSecOps and scale beyond the 20 languages and platforms it currently supports, while maintaining its deep understanding of each ecosystem.