An Israeli security company for developers Snake Announced its agreement to acquire the Israeli enterprise application security company Enso Security.
Enso Security, founded in 2020 by former Wix Application Security experts – CEO Roy Erlich, CPO Chen Gour Arie, and CTO Barak Tawily developed the Application Security Mode Management (ASPM) solution. The acquisition is subject to the usual closing terms and is expected to close in the second quarter of 2023. No financial details were disclosed although Israeli media reports say that Enso Security, which has raised $6 million to date, is being acquired for a 45- $50 million.
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Snyk brings in $196.5 million at a valuation of $7.4 billion
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Today Snyk is headquartered in Boston and is led by CEO Peter McKay and was founded by Israelis Guy Podgarni (President), Assaf Hefetz and Danny Grander. Founded in 2015, Snyk has developed a platform that identifies security breaches and open source code licensing management issues and takes effective action.
The company raised $196.5 million in a Series G funding round last December, at a valuation of $7.4 billion. That was just 12% lower than the $8.5 billion valuation achieved in the company’s funding round when it raised $300 million in September 2021.
“As DevSecOps becomes increasingly mainstream,” said McKay, “Snyk is committed to continuing to build on its market leadership by adding significant new capabilities that allow security leaders to grow and manage their global security programs to developers at scale. We look forward to welcoming the innovative Enso to our newest Snykers team.” We are fully committed to our shared vision of helping more organizations stay ahead of the competition by increasing the pace of innovation securely and virtually.”
Published by Globes, Israel business news – en.globes.co.il – on June 8, 2023.
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