Snyk ARR hits $300M

Snyk is a developer-oriented cybersecurity platform designed to help developers find and fix vulnerabilities in their code, open-source dependencies, containers, and cloud infrastructure.

Founded in 2015, Snyk integrates seamlessly into existing development workflows, offering both Static Application Security Testing (SAST) and Dynamic Application Security Testing (DAST) solutions. It is a cloud-native tool that prioritizes security issues, making it easier for development and security teams to collaborate effectively.

Snyk announced that it has surpassed $300 million in annual recurring revenue (ARR), marking a substantial growth milestone for the company. This achievement reflects a 50% increase in revenue from the previous year, where it reported $220 million in ARR while also reducing its losses by 33% to $176 million. CEO Peter McKay emphasized that this growth demonstrates the sustainability of Snyk's developer security vision and its long-term viability for customers and stakeholders.