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. In the UK, a number of companies have been using blockchain technology for identity verification in recent years. 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.
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.