The Power of Abraham Accords. The next Israeli Super-Unicorn: $7,4 Billion Valuation

Some Israeli – and of course European – business journals love to write about the “crisis” of the Israeli ‘Start-up-Nation’. It seems to be biased with the intention to harm the new incoming government of Benyamin Netanyahu. Instead we see the ‘power of the Abraham Accords’ elevating the next Israeli ‘Super-Unicorn’: 100% growth, 130% growth of revenue and $7,4 billion evaluation.

Yes, there are some lay-offs in the cyber industry, but they can be regarded on the one hand as consolidations and on the other a shift towards new industries like foodTech, sustainability, space and bio-nanotechnology. And of course, the year 2022 will not be the best year of mankind in general because of the warmongers Russia, China and Iran.

But who ever says the cyberindustry is dead, is simply wrong. Say hello to Snyk, well known to ‘VonNaftali‘ readers.

Snyk, the leader in developer security, announced $196.5 Million Series G Funding at $7.4 Billion Valuation, further validating the company’s unique developer security approach as well as increasingly strong industry demand for this rapidly growing new market category.

“In 2022, I’m proud that Snyk achieved a 100% year-over-year increase in revenue as well as net revenue retention of over 130%,” said Peter McKay, CEO, Snyk. “In this challenging macroeconomic environment, it is more critical than ever for global enterprises to increase their developer productivity and be able to continue their pace of innovation securely. In 2023, we look forward to leveraging this latest investment to continue enhancing our platform and help more global enterprises reap the benefits of DevSecOps.”

The round was led by QIA (Qatar Investment Authority) and included participation from new investors Evolution Equity Partners, G Squared and Irving Investors as well as existing investors boldstart ventures, Sands Capital and Tiger Global.

“QIA is delighted to lead this round to drive the further growth of Snyk, the established leader in developer security,” said Mansoor Ebrahim Al-Mahmoud, CEO, QIA. “We’re confident that Snyk’s proven approach and offerings, efficient financial growth and seasoned executive team position 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.”