Wiz, a NYC-based cloud security company, raised $1 billion at a $12 billion valuation.
The round, which brought total funding to $1.9 billion, was led by Andreessen Horowitz, Lightspeed Venture Partners, and Thrive Capital, with participation from Greylock, Wellington Management, and existing investors Cyberstarts, Greenoaks, Howard Schultz, Index Ventures, Salesforce Ventures, and Sequoia Capital.
The company intends to use the funds for future M&A efforts, along with talent recruitment and product development. The funding follows the acquisition of Gem Security, a Cloud Detection and Response (CDR) provider, as Wiz expands and enhance its Cloud Native Application Protection Platform (CNAPP) while considering an eventual IPO. The company had also acquired Raftt.
Founded in 2020 and led by Assaf Rappaport, CEO, and recently added COO & President Dali Rajic, Wiz secures everything hundreds of organizations worldwide build and run in the cloud, to rapidly identify and remove critical risks in cloud environments. Customers include Salesforce, Slack, Mars, BMW, Avery Dennison, Priceline, Cushman & Wakefield, DocuSign, Plaid, and Agoda, among others. The company achieved $350M ARR in 2023.
FinSMEs
07/05/2024