Wiz develops cloud security software focused on securing what organizations build and run in the cloud, centering on its Cloud Native Application Protection Platform (CNAPP). The company has acquired Gem Security (a Cloud Detection and Response provider) and Raftt as it expands and enhances its platform. Wiz plans to use new funding for M&A, talent recruitment, and product development, and is considering an eventual IPO. Customers include Salesforce, Slack, Mars, BMW, Avery Dennison, Priceline, Cushman & Wakefield, DocuSign, Plaid, and Agoda. The company was founded in 2020 and is led by CEO Assaf Rappaport with recently added COO & President Dali Rajic. Wiz reported $350M ARR in 2023. Wiz provides an agentless, API-centered cloud security platform that analyzes public cloud infrastructure (AWS, Azure, Google Cloud and others) and correlates signals across network, identity, secrets and workloads via a Wiz “security graph.” The product surfaces actionable risk alerts and prioritization so developers and managers can fix the most critical issues quickly. Wiz claims it scaled from $1M to $100M in ARR in just over 18 months and counts 35% of the Fortune 100 among its customers. The company says the new capital will be used for product development and hiring, with plans to expand in the U.S. and grow its federal government footprint. Wiz has rapidly expanded headcount, growing from roughly 500 employees in summer 2022 to 650 today and plans to double its workforce by the end of the year. The company is New York–based and was founded in March 2020; it is now valued at around $10 billion post-money. Wiz offers a platform designed to help companies secure their cloud infrastructure at scale. The company emerged from stealth three months prior to the article. It is co‑founded by Assaf Rappaport, Ami Luttwak, Yinon Costica and Roy Reznik. Wiz intends to use newly raised funds to expand operations and broaden its business reach. The article does not disclose operating metrics such as revenue or user counts. The company is positioned in the cloud security market with teams in Palo Alto and Tel Aviv. Wiz offers a cloud-native security product designed to secure cloud infrastructure at scale and emerged from stealth with paying customers, including Fortune 100 companies. The company was founded in January 2020 by former leads of Microsoft’s Cloud Security Group and the founding team of Adallom. Founders include Assaf Rappaport (CEO), Ami Luttwak, Yinon Costica and Roy Reznik, who have worked together for more than 15 years. Adallom, the team’s prior company, was acquired by Microsoft in 2015 for $320m. Wiz’s product is already in commercial use and the company intends to use the new capital to scale to meet customer demand. The company is based in Palo Alto, California and Tel Aviv, Israel.

Total raised

$1.5B

Funding rounds

4

Latest round

Equity

Latest activity

May 2024