Wiz eyes an unprecedented $800M funding round at a valuation of more than $10B to finance future acquisitions

Mar 11, 2024•over 1 year ago

Amount Raised

$800 Million

Round Type

series d

New YorkCyber SecurityCloud SecurityNetwork Security

Investors

CyberstartsSequoiaG SquaredLightspeed Venture PartnersThrive

Description

New York-based cloud security vendor Wiz is in talks with several investors, including Thrive, Lightspeed Venture Partners, G Squared, Sequoia, and Cyberstarts, to raise roughly $800 million at a valuation of more than $10 billion. The funding will be used to finance future acquisitions of other tech groups to bolster its offering.

Company Information

Company

Wiz

Location

New York, New York, United States

About

Wiz was founded by CEO Assaf Rappaport, CTO Ami Luttwak, VP Product Yinon Costica, and VP R&D Roy Reznik. The team has worked together for over 20 years, including as Microsoft's Cloud Security Group leads and as the founding team of Adallom, which was acquired by Microsoft for $320 million. Wiz scans every layer of the cloud to provide complete visibility, and uses its Security Graph's context to eliminate the noise and surface the risks that matter most. Customers can then quickly identify, prioritize and remove risks across their cloud. This new approach to cloud security disrupts the agent-based security model and utilizes an agentless, API-centered approach to seamlessly scan cloud workloads. Wiz said goodbye to contextless alerts and, instead, at the heart of the product lies the Wiz Security Graph.

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