UK start-up Snyk, which detects when apps or their open-source components are compromised, has raised $22m to meet increasing demand. The series B funding was led by GV and included Boldstart Ventures and Heavybit and added to $7m already raised. Open-source software is used by 95% of companies and organisations and is a $14bn global market, but component vulnerability threatens an operation’s cybersecurity. Snyk said it had 150,000 customers and more than 200 users and analysts say it is worth about $100m. Organisations can use its services on their premises, through the cloud, or a hybrid of both.
UK start-up Snyk, which detects when apps or their open-source components are compromised, has raised $22m to meet increasing demand. The series B funding was led by GV and included Boldstart Ventures and Heavybit and added to $7m already raised. Open-source software is used by 95% of companies and organisations and is a $14bn global market, but component vulnerability threatens an operation’s cybersecurity. Snyk said it had more than 200 customers and 150,000 users and analysts say it is worth about $100m. Organisations can use its services on their premises, through the cloud, or a hybrid of both.