Wiz Raises $300 Million in Series D Funding  

by Kay Aloha Villamor in February 28th, 2023

Wiz, a New York-based cloud security company, raised $300 million in Series D funding at a $10 billion valuation. 

The round was led by Lightspeed Venture Partners and existing investors Greenoaks Capital Partners and Index Ventures. 

The company plans to add additional headcount to its existing 650 employees in the U.S. and globally, and open three new U.S. offices in Austin, Dallas, and Washington, DC. 

Wiz will continue expanding its workforce with the best talent and will continue expanding in the U.S. market, including the federal government in its efforts to secure the nation from cyber-attacks. The funds will also support continued global expansion in EMEA and APAC.

Assaf Rappaport, co-founder, and CEO of Wiz said: "We are extremely proud of our growth rate in terms of the number of customers, sales and valuation, especially in view of the current market conditions for global high-tech. While there are many cybersecurity offerings in the market, Wiz's explosive growth proves that organizations choose our platform because it allows security and development teams to efficiently identify vulnerabilities and prevent breaches. Wiz also consolidates many fragmented tools into one platform, from vulnerability assessment to data security and permission analysis. This round of funding will accelerate the growth of our global operations, enable diversification of our customers across a range of industries, and support our commitment to continued innovation".

The demand for Wiz's product is evident in customer validation from more than 35% of Fortune 100 companies, including BMW and Morgan Stanley, as well as other leading companies such as Salesforce, Slack, Colgate, and Blackstone, demonstrating that Wiz's approach to cybersecurity is the future of the industry.

Wiz claims that it is now the world's largest cybersecurity unicorn and the fastest SaaS company to achieve a $10 billion valuation. Furthermore, earlier this month, G2, the software marketplace, awarded Wiz Best Security Product for 2023.

Company: Wiz, Inc.

Raised: $300.0M

Round: Series D

Funding Month: February 2023

Lead Investors: Lightspeed Venture Partners, Greenoaks Capital Partners, and Index Ventures

Additional Investors:

Company Website: https://www.wiz.io/

Software Category: Cloud Security

About the Company: Founded in 2020 by Assaf Rappaport, Ami Luttwak, Yinon Costica, and Roy Reznik. Wiz is a cloud security platform designed to help businesses to secure their cloud infrastructure at scale. The company's platform offers cloud visibility services for enterprise security by offering an overview of security risks across clouds, containers, and workloads without the need for agents or sidecars, enabling businesses to identify vulnerabilities, misconfigurations, network exposure, manage identities and privileges, and discover exposed secrets. Wiz scans every layer of the cloud to provide complete visibility and uses its security graph's context to eliminate the noise and surface the risks that matter most. The company is on a mission to help organizations create secure cloud environments that accelerate their businesses. 

Source: https://www.prnewswire.com/news-releases/cloud-security-leader-wiz-announces-300-million-series-d-financing-round-at-10-billion-valuation-301756228.html

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