Security specialist Snyk is considering going public next year. The IPO should yield more than the current company value of 7.6 billion euros (8.6 billion dollars).
According to Bloomberg sources, Snyk is currently in talks with banks about the IPO. The IPO should take place in mid-2022. Snyk hopes to raise more than 7.6 billion euros (8.6 billion dollars), the current estimated value of the company, with the IPO. It is unknown what this money will be used for.
The security specialist has already raised approximately 1.2 billion euros (1.4 billion dollars) from private investors and from the investment branches of Salesforce and Atlassian, among others.
Security for open source code
Snyk provides a security solution for using open-source code in application design. The platform allows developers to discover known vulnerabilities and license violations in open-source dependencies in the development process.
To this end, the platform integrates with existing workflows, such as with open-source repositories such as GitHub and BitBucket. In this way, it monitors platforms-as-a-service and serverless applications. The platform also ensures that developers can integrate open source into their development processes according to all applicable license conditions.
Other security applications
In addition, the Snyk platform also provides functionality for detecting both software vulnerabilities and misconfigured infrastructure settings. This can prevent companies’ cloud environments from being vulnerable to hacker attacks.
Snyk’s customers include Atlassian, Salesforce, AWS, Datadog, Twilio, and Revolut.
