• Snyk, a cloud-native application security startup, has acquired the cloud security and compliance startup Fugue for an undisclosed amount. This acquisition marks Snyk’s entry into the cloud application security market.

• Founded in 2013, Fugue provides cloud security capabilities to protect applications in the cloud. Fugue’s unified policy engine leverages one set of policies to connect cloud posture back to the configuration code and manage compliance throughout the software development lifecycle (SDLC) using less than 50% engineering resources.

• The acquisition expands Snyk Developer Security Platform with developer-first cloud security posture management (CSPM) to detect security vulnerabilities in cloud workloads and to provide security insights for vulnerability prioritization based on advanced exploitability analysis. This will allow developers to secure code pre-deployment, maintain secure code integrity, and fix code issues.

• In addition, Snyk also expects to integrate Fugue’s cloud security capabilities with Snyk’s infrastructure as code (IaC) product in H2 2022, for which it also revealed the feature pipeline for 2022.

• Snyk’s employee headcount increased nearly threefold to 1,200 over the past 12 months. The company has more than 1,500 customers, including Google, AWS, and Salesforce. Snyk has also revealed that its revenue grew at a faster rate in 2021 than 2020 and is experiencing that trend continue into Q1 2022.

<ul><li> Analyst QuickTake: Snyk raised over USD 600 million in its Series F fundraise in September last year at a USD 8.5 billion valuation. It plans to use the funds for product innovation and development. The company continues to develop its IaC product and is currently working on adding the drift detection features from its CloudSkiff acquisition .</ul>