14 Dec Qatar’s QIA leads $196.5mln funding round of cybersecurity start-up Snyk to drive innovation and expansion
Qatar Investment Authority (QIA), the GCC country’s sovereign wealth fund with assets valued at around $450 billion, has led a $196.5 million Series G funding round in cybersecurity startup Snyk Ltd.
The round also engaged new investors with Evolution Equity Partners, G Squared and Irving Investors. Existing investors continued to support the cybersecurity business with Boldstart Ventures, Sands Capital and Tiger Global all inputting funds. The previous round of funding was valued at $8.5 billion, with this round far surpassing previous expectations.
Mansoor Ebrahim Al-Mahmoud, CEO of QIA, said: “We’re confident that Snyk’s proven approach positions the company for a successful future and is aligned with QIA’s track record of supporting innovative companies shaping the future of the global economy.”
The investment is expected to drive production innovation at Synk, expans the current team and also develop its leading security platform.