Snyk announced a $300 million funding round co-led by venture firms Accel and Tiger Global Management.

Snyk, a London, UK-based developer of cybersecurity analysis tools, announced getting into a investment agreement totalling $300 million.

The deal is a primary and secondary funding combination putting a $4.7 billion valuation on the company. Accel and Tiger Global Management co-led the round, joined by Atlassian, Franklin Templeton and earlier backers Addition, BlackRock, Boldstart Ventures, Canaan Partners, Coatue, GV, Salesforce Ventures and Stripe.

Snyk, founded in 2015 in Israel and led by CEO Peter McKay, develops open-source software used for security analysis designed to identify open-source vulnerabilities. The company's platform allows developers to automatically integrate security in their existing work flows, and includes secure components, such as code and open source libraries, to develop so-called cloud-native applications.

Snyk lastly raised $200 million in 2020.