On the back of raising $200 million, UK-based software scale-up Snyk is today announcing its acquisition of DeepCode, a Swiss provider of real-time semantic code analysis powered by AI.
By acquiring ETH Zurich spin-off DeepCode and its technology, Snyk aims to boost both the speed and overall intelligence of its 'developer-first' security platform, using integrated machine learning-based intelligence to more swiftly identify vulnerabilities.
Currently, Snyk’s platform supports more than 1.5 million developers worldwide in building software securely throughout the development process, the company says.
"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."
Terms of the acquisition, which is expected to close within two months, were not disclosed.
A little over a year ago, we reported that DeepCode had raised $4 million in seed funding led by Earlybird, with participation from 3VC and existing investor btov Partners.
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