Snapt

Software-based load balancers.

Epitaph

“Here lies Snapt. It built software load balancers and application delivery controllers for enterprises. Demand kept climbing, but no round followed the 2018 Series A, and the company that balanced everyone else's traffic had no failover of its own. It shut off in October 2022.”

Overview

Born: 2012 (Year)
Died: October 2022 (Month)
Lifespan: 11 years
Fate: Shut down
Headquarters: 🇿🇦 South Africa
Category: Cybersecurity, Developer Tools & Cloud
Stage at death: Series A
Primary cause: Funding or runway
Contributing causes: External shock

Death certificate

Timeline

2012Company founded
Snapt founded in South Africa to build software load balancers.
2015US expansion
Establishes a standalone US sales and marketing division.
December 2018Series A
Raises $3M Series A funding round.
October 2022Shutdown
Ceases operations immediately, shuts down Nova platform and Aria support, citing exhausted runway.

Autopsy report

Why did Snapt shut down?

Snapt, a South African-founded maker of software load balancers and application delivery controllers (Nova/Aria), abruptly ceased operations in October 2022, telling customers it had run out of financial runway despite growing enterprise demand, and offered migration assistance as it wound down.

What Snapt attempted

Snapt built software-based load balancers and application delivery controllers (its Nova platform and Aria software) for enterprise customers, founded in South Africa in 2012 and later running a standalone US sales and marketing arm from 2015.

What worked

Raised $3M in Series A funding in December 2018 and reported growing enterprise customer demand in the 12 months before shutdown.

Early warning signs

No additional funding round was secured after the December 2018 Series A, despite reported growth in enterprise demand.

What happened

In October 2022 the company informed customers it was closing immediately, citing 'recent unforeseen events, outside of our control,' shut down its Nova platform and discontinued support for Aria, and offered help transitioning clients to other vendors.

Lessons for future builders

Rising demand does not refill the bank, and a single Series A only lasts so long. Match fundraising to your real burn and start the next raise while the story is still growth, not survival.