New funding underlines potential of cloud-native security

The importance of the developing market for cloud-native, open source security solutions was underlined this week with substantial new funding for a pair of cloud security unicorns. Snyk and Aqua Security between them bagged late-stage financing totalling $435 million.


Snyk, a start-up in the cloud native application security space, closed Series E financing worth $300 million. The company has now raised a total of $470 million to date, taking its valuation to $4.7 billion, a quadrupling since the beginning of 2020.


It said the money will go to promoting its Cloud Native Application Security Platform which it claimed is the only developer-first solution to provide security visibility and remediation for every critical component of modern applications, including the application code, open source libraries, container infrastructure and infrastructure as code.


“We believe there is an exponential, generational opportunity still in front of us,” said Peter McKay, CEO, Snyk. “This latest investment allows us to accelerate our growth at every level – doubling down on our successful product-led growth strategy, adding to our customer roster, recruiting talent to our team worldwide and expanding geographically.”


Aqua Security, a Boston and Tel Aviv-based security start-up that focuses on securing cloud-native services, has announced $135 million Series E funding at a $1 billion valuation. In total, Aqua Security has now raised $265 million since it was founded in 2015. Its cloud-native security platform now protects containers and Virtual Machine workloads at runtime on Arm-powered devices. This enables Aqua customers to take advantage of the high density and cost-effectiveness provided by Arm-powered hosts and devices across cloud infrastructure, edge and IoT platforms, it said.


If cloud native issues are your area of interest, check this event.

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