Snyk Buys DeepCode

September 23, 2020

Snyk has signed an agreement to acquire DeepCode, a provider of real-time semantic code analysis powered by AI. The deal is expected to close within two months, following satisfaction of customary pre-closing conditions. DeepCode's industry-first technology will advance Snyk's comprehensive security platform, including open source security, container security and infrastructure as code security, using integrated machine learning-based intelligence to more quickly identify vulnerabilities and ensure developers have a superior level of accuracy.

Terms were not disclosed.

Today, Snyk offers an unmatched developer security experience that enables companies to keep up with the modern pace of development, accelerated by the rapid adoption of DevOps and cloud native technologies. To solve this growing market challenge, Snyk's platform supports more than 1.5M developers worldwide in building software securely throughout the development process, while providing the security and operations teams with the visibility, accuracy and control they need. The acquisition of DeepCode comes on the heels of Snyk's September 9th announcement of a $200 million Series D investment and valuation of $2.6B. Building on a year of extraordinary growth, including more than 275% revenue growth and 100% employee growth, Snyk will continue its rapid expansion and product innovation with the addition of the DeepCode team and technology.

DeepCode is an ETH Zurich spin-off founded by leading machine learning and programming languages researchers.

With the acquisition of DeepCode, Snyk's technology platform will be significantly advanced by integrating and building on DeepCode's AI engine, which includes:

Sophisticated interpretable machine learning semantic code analysis. The technology scans code 10-50x faster than alternatives, enabling real-time workflows within the development process, and dramatically reduces both false negatives and false positives using a custom machine learning platform that is able to quickly learn from huge volumes of code.

An exceptional developer UX unlocked via a custom, next-generation Datalog solver that, for the first time, allows for high precision semantic code analysis in real time. This technology enables code scanning at the IDE and git level so that developers can seamlessly integrate scanning into their development process in real-time rather than adding interruptive steps.

"Traditional security tools are fatally flawed in today's fast-paced development environment," said Peter McKay, CEO of Snyk. "They are too slow for developers to use in their daily work, and they result in too many false positives, often leading to wasted time or overlooked threats. DeepCode's AI engine brings a level of speed and accuracy to Snyk's technology platform that will give customers a level of security intelligence they've never had before. Additionally, we now can apply those capabilities to the proprietary code written by developers, extending the Snyk platform's coverage for securing cloud native applications."

"Core to our focus at DeepCode was creating a sophisticated AI platform that blends advanced machine learning algorithms and semantic analysis which makes scanning of code lightning-fast and incredibly accurate," said Boris Paskalev, CEO of DeepCode. "By leveraging Snyk's security expertise and comprehensive vulnerability database to train our engine, our accuracy will become better even faster, and we can reduce false positives to near-zero. This provides massive productivity benefits for developers and security teams and overall risk reduction."

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