Software September 29, 2020

Cloud Startups Ride Wave of Pandemic-Fueled Investments

Written By

The Wall Street Journal

Linked In Snyk

Stripes portfolio company Snyk was recently featured in this excerpt from The Wall Street Journal for their growth during the pandemic.

"Cloud-computing funding deals world-wide reached a three-year high of 97 during the second quarter, up from 76 during the same period in 2019, according to market intelligence firm CB Insights. Investors poured almost $3 billion into those startup deals between April and June.

“A lot of large companies have used this point in time to move more into the cloud and [become] forward-looking, and [Snyk has] benefited from that in a big way” said Ken Fox, founder of New York-based growth equity firm Stripes.

Stripes is an investor in application security company Snyk Inc., which raised $200 million in venture funding earlier this month. The five-year-old company makes it easier for software developers to build security into their cloud-based applications so they can be built and deployed faster while lessening the burden on security teams."


A lot of large companies have used this point in time to move more into the cloud and [become] forward-looking, and [Snyk has] benefited from that in a big way


Linked In Snyk