Despite the Rosh Hashana holiday, the startup nation didn’t lose any of its momentum this week, with a number of large deals reported.
SNYK, a cybersecurity firm founded in Tel Aviv, raised $300 million in funding at a valuation of $8.5 billion in a round led by Sands Capital Ventures and Tiger Global, according to Reuters. Investors also paid another $230m. to buy existing shares of the company, the report said.
That would make it one of the highest-valued Israeli companies ever to raise venture funding. It would also bring the total funding raised by Snyk, which was founded in 2015, above $1 billion. Prior to the newest investment, Snyk had raised $752m. in seven funding rounds. In March 2021, the company raised $175m. and sold for $125m. worth of shares at a valuation of $4.7b. In 2020, Snyk raised $200m. in September and $150m. in January.
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