19 February 2015

Synack Raises $25 Million in Series B Funding

Jay Kaplan

Today is an exciting day for us at Synack.

We are pleased to announce that we have raised $25 million in Series B funding, co-led by GGV Capital and Icon Ventures (formerly known as Jafco Ventures.) GGVC and Icon join investments from previous institutional investors KPCB, Google Ventures, and Greylock Partners, as well as a number of phenomenal industry experts including Timothy Eades (CEO of vArmour), Derek Smith (CEO of Shape Security), and Ray Rothrock (CEO of Redseal Networks.) This brings Synack’s total VC funding to over $34 million raised in under 2 years.

This new significant investment by firms who have made winning bets in the enterprise security space is a testament to the traction we’ve demonstrated over a short period of time. Synack has successfully recruited some of the most sought-after security talent in the world to form the Synack Red Team while enabling thriving enterprises to engage with these researchers via Synack’s robust technology platform. We have expanded our customer base across a wide range of industry verticals including financial services, banking, healthcare, education, retail, entertainment, technology and manufacturing. And we have grown Synack’s internal team to include talent from an impressive array of companies and government agencies including PayPal, Microsoft, FireEye, Imperva, RSA, Facebook, eBay, NVIDIA, Elance, and NSA.

Since closing our series A funding round just nine months ago, we have seen 40% growth in the Synack Red Team, while maintaining the high quality and trust in our researchers that our customers demand. We’ve also seen 60% growth in our customer base and 90% growth in revenue.

This is just the beginning. Over the next few months Synack will continue to accelerate development of an array of new products that will further revolutionize human-powered security intelligence as we know it. This in addition to expanding functional roles across all teams to support aggressive customer expansion.

Check out some of the press we’ve been receiving around this announcement:

Synack is actively hiring for a number of positions spanning operations, sales, marketing, and engineering. If you are interested, please see our jobs page or e-mail your resume to [email protected]. Synack is also always looking for top security experts in the security space to join the Synack Red Team. If you are interested, applications are open across multiple security disciplines.