Friday Fundings: Snyk, Aqua Security, and Optibus
Application Security Company Hits $4.7 Billion Valuation
Snyk, a company creating application security technology, recently raised its valuation to $4.7 billion after a round of new funding and a secondary sale totaling $300 million. Accel and Tiger Global led the round with participation from investors including Addition, Boldstart Ventures, Canaan Partners, and Coatue. Analysts expect this will be Snyk’s final funding round before it goes public.
Demand for application security solutions is soaring. According to Snyk, about 43% of data breaches have been linked to problems with application security. However, there is a shortage of developers working on solutions to this problem, which could mean Snyk will see growth in the coming years.
Aqua Security Raises $135 Million
Aqua Security, a startup which works on securing cloud-native services, has secured $135 million in a Series E funding round led by ION Crossover Partners. The company is now valued at $1 billion.
Aqua was one of the earliest companies to focus on securing container deployments. Many of its rivals were bought up over the years, but Aqua has stayed independent. Analysts expect the company could pursue an IPO in the near future.
Public Transportation Analytics Company Raises $107 Million
Transportation data provider Optibus recently raised $107 million in a Series C funding round. Bessemer Venture Partners and Insight Partners co-led the round.
The Tel Aviv-based company’s platform analyzes how people and vehicles move through cities. It then offers navigation, scheduling, and other guidance to help organize mass transportation. Optibus works with city governments as well as companies which organize shuttle services for their employees. Demand for Optibus’ services has climbed during the pandemic as transportation providers think about strategies for keeping people safe on busses, trains, and other forms of transportation.
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