- Dazz — a rapidly growing cloud security remediation company — recently announced that it has raised a total of $60 million to date. These are the details.
Dazz — a rapidly growing cloud security remediation company — recently announced that it has raised a total of $60 million to date from some of the leading venture capital firms. And the company will expand its engineering team and build a go-to-market organization in the United States with offices in Palo Alto and New York.
Venture capital firms participating in the funding round include Insight Partners (Steve Ward), Greylock (Asheem Chandna and Sarah Guo), Index Ventures (Shardul Shah), and Cyberstarts (Gili Raanan). Dazz’s technology addresses the urgent security need created by the rapid adoption of cloud computing — which has been accelerated by the pandemic and which McKinsey predicts will grow six times the speed of IT spending.
While cloud and application security tools today alert on issues such as code flaws and infrastructure misconfigurations, Dazz takes aim at the long-ignored and painful remediation process. The company’s automated solution cuts customers’ alert queues, vastly reduces the mean time to remediate issues, and eases the tension between security and engineering teams.
Merav Bahat, the CEO and founder of the company, served as the General Manager of the Cloud Security Business for Microsoft, and was also the Deputy CEO of Microsoft Israel R&D. And she co-founded the company with CTO, Tomer Schwartz and VP R&D, Yuval Ofir, who are acclaimed cybersecurity leaders with decades of combined experience solving cloud and cybersecurity challenges across global enterprises.
Schwartz had co-founded IoT security leader Armis, was head of research at Adallom, and founded the Microsoft Security Response Center in Israel. And Ofir, headed R&D at industrial cybersecurity leader Claroty and was a leader in the prestigious Israeli Defense Forces intelligence unit 8200.
Dazz already has 30 employees and plans to use the new funds to expand the team to 50. And it also plans to use the funds to build a go-to-market and operations organization of similar size, including sales, marketing, customer success, and operations in the United States, targeting Fortune 500 and fast-growing tech companies.
KEY QUOTES:
“Our vision is to solve a critical set of problems while improving the effectiveness of collaboration between security teams and their business partners. To do that, even before writing a single line of code, our team worked closely with customers, and we continue to listen and understand their concerns and pains.”
“We’ve hit on an amazing opportunity. But where the rubber hits the road is the team. I’m grateful for the opportunity to work with such a smart, enthusiastic and ambitious group of people. They bring every bit of their passion and customer obsession into the product.”
— Founder and CEO Merav Bahat
“Enterprises are accelerating their move to the cloud. Dazz bridges the gap between developers and production, helping teams rapidly remediate and resolve cloud security issues.”
— Asheem Chandna, Partner at Greylock
“Dazz’s vision of solving a critical set of cybersecurity problems related to the development and cloud environments and the need for continuous deployment for their business partners makes it a standout platform in the enterprise space.”
— Steve Ward, Managing Director at Insight Partners, who will join the Dazz board
“Cloud security is an amazingly complex task due to the variety of infrastructure and cybersecurity technologies involved. I’m thrilled to partner with the experienced and talented Dazz team. In a very short time, they built a one-of-a-kind solution to help Fortune 500 companies systematically improve their security posture.”
— Cyberstarts’s founder Gili Raanan, who was the first investor in Dazz
“Dazz is able to get issues to our developers more quickly, identify misconfigurations for direct remediation, and aggregate aspects of development security that were previously fractured and inconsistent. They innovate quickly and collaborate effectively with my team.”
— One of Dazz’s customers, Mike Towers, CISO at Takeda Pharmaceuticals International
