Wiz raises $1B at a $12B valuation to expand its cloud security platform through acquisitions
Wiz raises $1B at a $12B valuation to expand its cloud security platform through acquisitions
Wiz, a cloud security startup, has secured $1 billion in Series E funding, co-led by Andreessen Horowitz, Lightspeed Venture Partners, and Thrive, valuing the company at $12 billion. This funding will support Wiz's aggressive expansion through acquisitions as it prepares for an IPO. The company, founded four years ago, has rapidly grown, boasting contracts with 40% of the Fortune 100 and aiming for $1 billion ARR by 2025.
CEO Assaf Rappaport plans to grow Wiz both organically and through strategic acquisitions, targeting both struggling ex-unicorns and promising young startups. Recent acquisition attempts include Gem Security and a failed bid for Lacework. Wiz's platform offers comprehensive cloud security by analyzing data across multiple cloud environments, helping enterprises manage increased security risks associated with cloud adoption.