Developing computing applications often rely on a foundation that combines several open-source solutions. Developers use open-source ‘libraries’ to add functionality to their software, but because these libraries are defined by such licenses, they offer no guarantee that they’re even fit for the purpose. Therefore, many open-source projects are fraught with issues that could cause problems at some point during the development process. To address the problem of open source security, snyk was born.
Snyk’s tools offer to identify & fix security vulnerabilities in open-source code, before they cause problems for developers. The company, founded by Guy Podjarny, Assaf Hefetz & Danny Grandernow has offices in 4 countries (London, Tel Aviv, Canada & Boston) & over 300,000 users.
Founded in 2015, snyk has grown its customer base rapidly over the last few years, & currently has heavyweights such as Google, Salesforce & Microsoft as clients. The company’s products have attracted the attention of venture capitalists, netting investment from Accel, GV, Boldstart Ventures & Heavybit, with the latest funding round of $70 million.
With support for a host of programming languages such as Ruby, PHP (with Composer), Node.Js, Java, Go & others, snyk monitors code repositories like GitHub & Bitbucket for issues & vulnerabilities, alerting developers when problems are found.
Recently, the company has rolled out support for checking container images, such as Docker images. The use of container platforms for building applications in a fast-growth market, with adoption rates expected to increase by 70% in the next 5 years. Snyk’s unique tool-kit, & funding has positioned the company, which currently has a valuation of around $500 million, to expand exponentially in the near future. The company has seen a 200% increase in paying clients in the past year alone, so with the money to develop fresh markets & promote their product, expect to see this figure increment in leaps & bounds.
Image Credit: snyk
