LONDON and BOSTON, July 17, 2019 /PRNewswire/ -- Developer-first security company, Snyk, has appointed Board Member and Advisor Peter McKay as Chief Executive Officer effective September 1, 2019. With more than 300,000 users today and a projected 400% revenue growth in 2019, Snyk is investing across the business for the next phase of rapid growth with this change in leadership and an increased focus on driving adoption in enterprise development and security teams.
Snyk's current CEO and Co-Founder Guy Podjarny will continue as President and Chairman of the Board. In this new role, Podjarny will double-down on guiding the company in its vision to help developers embrace security responsibility and to help businesses easily scale security across their organizations.
"Amidst the recent market successes of devops, security and product-led companies, including several 2019 IPOs, we are strengthening our team to continue to build our momentum," said Podjarny. "Our founding vision of disrupting the security market by focusing on developers has become a reality. Now, with Peter joining us as CEO, I will dedicate my time and attention to helping Snyk lead the developer-first security transformation that is happening across the industry today."
McKay brings a wealth of experience in executive leadership positions to Snyk, where he has been an advisor for several years. Most recently, as co-CEO at Veeam, McKay led the team in doubling revenue to nearly $1B in 2.5 years; and, as SVP and General Manager of Americas at VMware, McKay led all go-to-market functions, managing $4B in annual revenue. In his new role as CEO at Snyk, McKay will bring his hands-on, go-to-market experience; proven leadership in hyper-growth companies; and close relationships with the team, to help accelerate the business and provide expertise and continuity as the company grows.
"Snyk is meeting a massive need in the market by offering an easy and accessible way for organizations to secure development at scale. This hasn't been available before, and I look forward to helping accelerate this mission," said McKay. "From fast developer adoption, to increasing product usage, to a team that has grown 6x in 18 months, Snyk has all of the ingredients to build on and continue this path of explosive growth. I'm thrilled to be a part of it."
Since raising its Series B last summer, Snyk has experienced significant growth in product adoption and usage, with more than 90% of its customers coming from inbound and product-led opportunities. Snyk's success has been built on developer adoption and affection for the security tool, which has 300,000 global users and protects more than 320,000 projects on GitHub and other platforms. As an open platform that developers can automate and integrate with, Snyk runs more than 8 million tests each month, across free and paying customers that include Google, Microsoft and New Relic.
"Snyk has created a unique position within the market that is bringing together the efficiency of a product-led business model with the growing demand for software security. These dynamics are essential to its impressive growth and the widespread impact the company is having in the security market," said Philippe Botteri, Partner, Accel. "Peter is a powerful addition to the Snyk team, where he will leverage his go-to-market experience and reinforce Guy's vision of changing how organizations reduce risk and empower developers to own security."
Snyk is a developer-first security company that helps organizations use open source and stay secure. Snyk is the only solution that seamlessly and proactively finds and fixes vulnerabilities and license violations in open source dependencies and Docker images. Snyk's solution is built on a comprehensive, proprietary vulnerability database, maintained by an expert security research team in Israel and London. With tight integration into existing developer workflows, source control (including GitHub, Bitbucket, GitLab), and CI/CD pipelines, Snyk enables efficient security workflows and reduces mean-time-to-fix. For more information or to get started with Snyk for free today, visit https://snyk.io.