UPTEC startup Probely acquired by US company Snyk
UPTEC startup Probely acquired by US company Snyk
Probely founders: Nuno Loureiro, João Poupino, Hugo Castilho, Bruno Barão, Cláudio Gamboa and Tiago Mendo.
Probely, a startup incubated at UPTEC – Science and Technology Park of U.Porto, has just been bought by US cybersecurity company Snyk, which has now added around 40 more people to its team.
Probely automates the search for security problems in web applications through a solution that identifies vulnerabilities in websites, web applications and API’s (application programming interface) and helps the developers responsible to resolve the problems diagnosed.
Created in 2016 by six web specialists, the startup has taken its services across borders, with more than 200 clients in areas such as telecommunications, hospitality and health in around 30 countries. “Probely was an international organisation from the start, especially considering that of the first 10 clients, only two were Portuguese. Even today, this internationalisation profile is maintained, with the vast majority of clients based in the United States, and a considerable fringe spread not only across Europe, but also South America and Asia”, says Nuno Loureiro, CEO and co-founder of Probely.
Probely acquisition: a “perfect fit”
“In terms of expansion, this acquisition allows Probely to be part of an even more global organisation with a market footprint that allows us to take the good work we’ve done over the years to benefit even more organisations around the world”, adds Nuno.
The acquisition by Snyk wasn’t just a question of market expansion, but of a common identity and values, he clarifies: “It was a perfect fit between two organisations that share a common mentality, a very specific DNA. Right from the start, there was a perspective of complementarity in the application security products that both offered – so the acquisition was not motivated by expanding market share, but rather so that the joint platform would be more comprehensive as a product (…) and a cultural fit, in terms of posture and organisational philosophy, which we very much like, with a lot in common: serving the central figures who provide the foundations of the online security world at all stages of the development process”.
In 2022, Probely managed to close an investment round worth 7.7 million euros. The project incubated at UPTEC is Snyk’s latest acquisition following the purchase of DeepCode, Reviewpad, Enso Security and Helios.
November 22, 2024