for a venture The slow wheels of an initial public offering are beginning to turn for a capital-backed cybersecurity startup.
Snyk, the Accel Partners-backed startup that sells security tools for developers and is valued at $7.4 billion in 2022, is preparing a prospectus for IPO investors and plans to file with regulators in the coming months. Officials said there is a possibility that the documents will be secretly submitted. Meanwhile, SoftBank-backed Israeli startup Kato Networks, which sells network security software, plans to hire bank employees by March in preparation for an IPO later this year, people said. Cato was valued at $3 billion last year.