Cloud security company Wiz recently raised $1 billion at a $12 billion valuation, bringing the company’s total funding to $1.9 billion. The current round 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.
This deal comes on the heels of the acquisition of Gem Security, a leading Cloud Detection and Response (CDR) provider, as Wiz expands and enriches its Cloud Native Application Protection Platform (CNAPP) while setting its sights on an eventual IPO.
Wiz has shattered growth records in four years, achieving $350 million ARR in 2023. The last year has included many other significant milestones, from executive hires to third-party recognition. For example, at the start of the year, Dali Rajic, formerly COO & President of Zscaler, joined as COO & President. And Wiz now works with 40% of the Fortune 100.
Wiz also made pioneering research discoveries to advance cloud and AI security, working with leading AI-as-a-service provider Hugging Face to strengthen AI security.
KEY QUOTES:
“We will never stop innovating on behalf of our customers. Wiz has worked to earn the love of security and development teams; as we bolster our CDR capabilities, SOC teams are also part of that equation. This funding round will help us continue to solve customers’ complex cloud security challenges in an elegant, simple manner while supporting their broader vendor consolidation efforts.”
– Assaf Rappaport, CEO and co-founder, Wiz
“Wiz is a cloud security pioneer and has demonstrated remarkable agility, adaptability, and a keen understanding of market dynamics. This has enabled smart growth and positioned them as a power player in the cybersecurity space.”
– Sarah Wang, Andreessen Horowitz
“Wiz is nothing short of a rocket ship. They were built for the cloud from day one and have an intense customer focus. It’s what’s allowed them to offer unmatched value to CISOs and ascend into market leadership so quickly. We’re thrilled to deepen our partnership with the team.”
– Arsham Memarzadeh, Lightspeed
“Wiz is a true cybersecurity platform – perhaps the only such company started in the last decade. This remarkable trajectory is a reflection of the team’s deep expertise, relentlessness, and execution. Wiz is poised to solve the next wave of security problems for its customers, including the challenge posed by AI. We are thrilled to be co-leading this round.”
– Philip Clark, Thrive Capital
