Snyk, an Israeli cybersecurity startup and a unicorn, has seen its valuation plummet, dropping by billions. And HyperGuest, an Israeli startup that offers a platform for the hospitality industry, raised $23 million in a Series A round of funding led by Lightspeed Venture Partners and included Viola Ventures and new investor Thayer Ventures.
Founded in 2019, HyperGuest’s technology platform empowers Accommodation and Travel Providers to deliver rooms with maximum efficiency. This open and highly scalable cloud technology layer opens new opportunities for profit and business with zero manual effort and the fastest time-to-booking.
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HyperGuest boasts that its tech empowers hotels to reach travelers through a direct link with travel service providers. Our seamless digital process assures excellent experience, efficient process and dramatically improved margins.
“We have achieved a significant milestone of 25,000 live hotels while partnering with over 380 demand customers and more than 150 global technology integrations,” said Nir Yaron, CEO and co-founder of HyperGuest. “This remarkable progress has led to exceptional growth, with both bookings and revenue rising by more than 10 times year on year. We are proud of the support of our investors, who share our vision of reshaping the travel landscape.”
As for Snyk, Calcalist reported that the firm has lost $4 billion from its more than $7 billion valuation reached in December 2022. Apparently shareholders are cutting deals to sell at only half their shares’ recent value. The devaluation of Snyk comes after the company made a number of cutbacks this year and can be tied to the overall worldwide financial crisis.
Yet just last month Snyk expanded with the acquisition of fellow Israeli security startup Enso Security.
Founded in 2015 by Israelis Assaf Hefetz, Danny Grander, and Guy Podjarny, Snyk provides cloud native application security (CNAS) solutions which enable modern applications to be built securely, empowering developers to own and build security for the whole application, from code and open source to containers and cloud infrastructure.
Snyk says that its SaaS platform can help developers find their vulnerabilities and license violations in their open source codebases, containers, and Kubernetes applications. By connecting their code repository, Snyk customers gain access to a giant vulnerability database, which enables Snyk to serve a description of the problem, point to where the flaw in the code lies, and even suggests a fix.
