Israeli developer security company Snyk has announced the acquisition of Israeli runtime data application company Helios. Tel Aviv-based Helios was founded by CEO Eli Cohen and CTO Ran Nozik. No financial details were disclosed about the acquisition of the company, which completed a $5 million seed financing round in July 2022.
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Snyk says the acquisition will further enhance its cloud-to-code risk visibility and marks a significant milestone in its Application Security Posture Management (ASPM) journey, which will accelerate the evolution of Snyk AppRisk and allowing enterprise security teams to more effectively manage their global application security programs at scale.
Snyk, which was founded in 2015, by Israelis Guy Podjarny (president), Assaf Hefetz and Danny Grander, is today headquartered in Boston and led by CEO Peter McKay. Snyk has developed a platform that identifies security breaches and open source licensing management issues for code and takes effective action.
The company raised $196.5 million in its most recent financing round in December 2022, at a $7.4 billion valuation. This was only 12% below the valuation of $8.5 billion achieved in the company’s financing round when it raised $300 million in September 2021. In June 2023, Snyk acquired Israeli enterprise application security company Enso Security for an estimated $50 million.
McKay said, “As the pace and complexity of software development continues to rapidly increase, we’ve seen our global customers reap enormous productivity gains, but often at the cost of increased risk and critical security concerns. This acquisition was executed with those valid concerns top of mind. We’re excited to welcome the Helios team and look forward to continuing to push the market forward with our ASPM vision and enhanced solution.”
Helios CEO Eli Cohen added,”This is an incredible opportunity for the Helios team to join Snyk and change how the industry views ASPM, and we’re thrilled that our technology will immediately be able to help more AppSec and developer teams be successful.”
Published by Globes, Israel business news – en.globes.co.il – on January 16, 2024.
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