By Darryl K. Taft
Intersection of 2 security trends
Snyk is able to command so much attention because of its focus on the intersection of two important cybersecurity trends: open source application security and cloud-native application security, said Jason Bloomberg, an analyst at Intellyx, in Suffolk, Va.
Open source security is particularly challenging because of the extensive use of third-party code, which may not be properly secured.
“Any open source-dependent application will also have many typically obscure dependencies, as one package depends upon another,” Bloomberg said. “Ensuring all the versions are up to date and no vulnerabilities remain in the code is a critical challenge. Given cloud-native infrastructure is extensively open source-based, the same challenges apply there as well. Snyk is well positioned to take advantage of these trends.”
Snyk’s developer-first approach provided a differentiator when it first launched, but in the last few years many competitors that focused more on the security persona have invested in the developer experience.
Thus, “Snyk will see a lot of these vendors pushing into their narrative,” Carielli said. “This type of funding and valuation doesn’t go unnoticed — their previous funding rounds had already attracted attention.”
