Snyk Secures Strategic Investment from ServiceNow to Accelerate Enterprise DevSecOps Transformation
BOSTON, Jan. 24, 2023 (GLOBE NEWSWIRE) -- Snyk, a leader in developer security, today announced that ServiceNow has made a strategic investment in the company, allowing enterprises worldwide to continue their pace of innovation securely by default. This latest development comes on the heels of Snyk’s announcement of $196.5 million in Series G investment in late 2022.
Despite tighter economic conditions expected throughout early 2023, enterprise leaders have a crucial role to play to ensure their businesses continue to prioritize developer productivity, technology innovation and cybersecurity remediation or face the very real risk of falling behind their competition. Together, Snyk and ServiceNow are focused on helping more global enterprises reap the many tangible benefits of DevSecOps, leveraging this latest investment to continue to enhance Snyk’s industry leading Developer Security Platform. In fact, the company’s recent customer value report revealed Snyk customers recognized security spend consolidation, massive developer productivity gains and meaningful risk reduction.
“For Snyk, this latest ServiceNow investment represents much more than pure capital,” said Peter McKay, CEO, Snyk. “First as a customer, then as a partner and now as a strategic investor, the ServiceNow team has proven their determination to shift enterprises away from slow, burdensome legacy cybersecurity approaches, allowing more resourceful global companies to embrace a modern, developer-centric security mindset.”
“It’s been exciting to witness Snyk’s journey over the last several years – from first evangelizing their pioneering vision of bringing the security mindset to the developer stage to now having thousands of customers worldwide embrace developer security,” said Philip Kirk, senior vice president of corporate business developmet, ServiceNow. “With this latest investment, we’re committed to working together to drive secure digital transformation outcomes for our customers.”
In addition to this latest funding, Snyk today is announcing a new integration with the ServiceNow Vulnerability Response solution. Currently available to joint customers, this new offering unites Snyk Open Source, advanced software composition analysis (SCA) backed by the company’s industry-leading intelligence, with the ServiceNow Platform.
This represents a significant milestone for teams relying on ServiceNow digital workflow solutions across their enterprises, providing them with a more comprehensive view of their attack surface and allowing them to effectively evaluate risks in order to help respond to priority threats faster. Leveraging Snyk, the ServiceNow Vulnerability Response solution continues to effectively address security concerns based on how applications are developed today. As part of a digital assembly line, modern software developers often reuse code from a variety of sources, including open source repositories. In turn, this external code often presents vulnerabilities that the ServiceNow offering can now quickly identify and prioritize for fast remediation.
“As evidenced by Log4Shell, news of a code-level vulnerability immediately sends global IT teams scrambling to understand their exposure. Snyk eliminates this mad dash by embedding security throughout the entire modern software development lifecycle,” said Manoj Nair, Chief Product Officer, Snyk. “This new ServiceNow integration brings Snyk into a popular platform that governs how IT is serviced, resulting in thousands of enterprises being able to bolster their overall security posture through effective DevSecOps collaboration.”
"With new insights provided by Snyk, the ServiceNow Vulnerability Response solution enables security teams to better collaborate with software developers as well as centrally manage and respond to open source vulnerabilities across applications,” said Lou Fiorello, vice president and general manager of security products, ServiceNow. “This significantly furthers ServiceNow’s ability to provide a single view into vulnerabilities across the enterprise technology environment, driving workflows to better prioritize and expedite vulnerability management. Together we are driving more secure outcomes and improving enterprise security posture."
Snyk and ServiceNow will be discussing further details of this new integration as well as recommended actions to improve overall application security during a webinar, “Snyk Peek: Application Vulnerabilities Delivered To ServiceNow Application Vulnerability Response,” taking place Monday, January 30, at 11 a.m. ET, to register, visit https://bit.ly/3QbF2gd.
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