This is technology M&A deal number 175 that MSSP Alert and sister site ChannelE2E have covered so far in 2023.
Snyk, founded in 2015, is based in Boston, Massachusetts. The company has 1,138 employees listed on LinkedIn. Snyk's areas of expertise include application, developer and software supply chain security.
Enso, founded in 2020, is based in Tel Aviv, Israel. The company has 40 employees listed on LinkedIn. Enso specializes in application security posture management (ASPM).
Snyk Strengthens Its Developer Security Platform
The Enso acquisition is part of SnykLaunch June 2023, which consists of new innovations to bolster Snyk's Developer Security Platform, the companies indicated. These innovations include the Insights code-to-cloud application intelligence capability. Insights helps development and security teams manage their organizations' application security posture.
There's also DeepCode AI, which allows AppSec teams to use human-written and AI-generated code to identify security issues.
Now, Snyk is leveraging Enso's ASPM capabilities with Insights to offer "the first and only developer security platform providing a holistic view of application security posture," the company stated. As such, the platform allows users to orchestrate AppSec coverage across the software development lifecycle (SDLC).
Snyk Chief Product Officer Manoj Nair offered his take to MSSP Alert about what the Enso acquisition means for MSSPs and their customers:
"With Enso, Snyk will offer an approach that enables prioritization based on business impact and risk. In addition, quick onboarding of application security controls and automation enables MSSPs to quickly provide value, benefiting both their businesses and their customers' security posture."
Snyk, Dynatrace Announce Partnership
The Enso acquisition comes after Snyk in February 2023 partnered with Dynatrace, a software intelligence company.
Together, Snyk and Dynatrace offer DevSecOps Lifecycle Coverage with Snyk app, which uses Dynatrace's AppEngine platform to connect Snyk container scans in pre-production with Dynatrace production-runtime insights. This app also enables development and security teams to use Dynatrace's platform to generate AI-powered answers. The apps can describe and prioritize vulnerabilities across the SDLC, the companies said.
Snyk Boosts Its Revenue, Lays Off Employees in 2022
Previously, Snyk recorded a 100% year-over-year increase in revenue, secured a $196.5 million Series G investment and received a $7.4 billion valuation in 2022. Meanwhile, Snyk in 2022 announced it laid off 198 employees and made several organizational changes.
Snyk offers a partner program and technology integrations.