The Business Model of Snyk
Snyk is a cloud-based security solutions provider that enables organisations to develop open source software securely and efficiently. Based in Boston, Massachusetts, the company was founded in 2015 and has been helping developers deliver software whose codes are protected from highly dynamic cyberthreats and making it easier for security teams to keep an eye on their business and identify vulnerabilities. Snyk regularly monitors projects, systematically points out new vulnerabilities and risks to the company and its customers, and helps to fix them. This leads to higher developer productivity, revenue growth, customer satisfaction, cost savings and an overall improved security posture in the company. Depending on usage and company size, Snyk provides different monthly and annual subscriptions at different benefits. For small teams, there is a limited free version, which can be upgraded and paid for according to the number of users. This starts at five users ($2,365/year) and can be upgraded up to 75 ($49,725/year) users. From 75 users, an enterprise version is possible, the prices of which are discussed individually.