Cloud security firm Wiz has raised $1 billion in funding at a valuation of $12 billion, bringing its total funding to $1.9 billion. The funding 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. The announcement comes shortly after Wiz’s acquisition of Gem Security, a leading Cloud Detection and Response (CDR) provider, as the company expands and enriches its Cloud Native Application Protection Platform (CNAPP) while planning for an eventual IPO.
Despite being just 4 years old, Wiz has broken growth records by achieving $350M ARR in 2023. Over the past year, the company has reached several significant milestones, including executive hires and third-party recognition. At the beginning of 2024, Dali Rajic, formerly COO & President of Zscaler, joined the company as COO & President. Wiz now serves 40% of the Fortune 100 and has been voted the #1 security product by independent customer reviews on G2. Wiz was also the highest-ranked cloud security firm on the Forbes Cloud 100 and received the top score in the “current offering” category of The Forrester Wave™: Cloud Workload Security, Q1, 2024.
Wiz has also made pioneering research discoveries to advance cloud and AI security. The company worked with leading AI-as-a-service provider Hugging Face to strengthen AI security and published its inaugural State of AI in the Cloud report.
Wiz predicts that 2024 will be “the year of security consolidation” and will use the latest round of funding to help drive future M&A efforts, talent recruitment, and product development. The company has recently acquired Raftt to empower developers and Gem Security to reinvent threat detection in the cloud.
