Cloud security solutions provider Wiz has raised $1 billion at a $12 billion valuation, bringing the company's total funding to $1.9 billion. The current round is 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 news comes on the heels of Wiz's 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.
At 4 years old, Wiz has shattered growth records, achieving $350M ARR in 2023. The last 12 months have included many other significant milestones, from executive hires to third party recognition. Wiz now works with 40% of the Fortune 100, and was voted the #1 security product by independent customer reviews on G2.
Assaf Rappaport, CEO and Co-Founder, Wiz
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.
Sarah Wang, Andreessen Horowitz
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.
