US-Israeli cloud security firm Wiz, the startup co-founded by the former general manager of R&D at Microsoft Israel, had announced it has raised $250 million in a Series C round just 18 months after its launch.
The company is now valued at a whopping $6 billion.
The round was co-led by Greenoaks and Insight Partners, with participation from Sequoia, Salesforce and others.
In May, the company raised $120 million in a Series B round from investors like Salesforce and Blackstone Group. At the time, the investment valued the company at $1.8 billion.
Less than two years after it was founded, Israeli cybersecurity startup Wiz is being valued at a staggering $6 billion after raising $250 million in its latest funding round, the company announced on Monday.
The investment came just four months after Wiz raised $120 million with Salesforce Ventures; Blackstone; Aglaé Ventures, the venture investment company of Bernard Arnault, the chairman and CEO of LMVH Moet Hennessy-Louis Vuitton, and one of the wealthiest men in the world; and US billionaire Howard Schultz, who served 14 years as CEO and chairman of Starbucks. That investment valued Wiz at $1.8 billion, according to the announcement.
This latest investment round was co-led by Insight Partners and Greenoaks Capital with participation from Sequoia Capital, Salesforce, and others. Wiz said in the statement that the round was “hugely oversubscribed,” with the company having to turn down “multiple term sheets and limit the round to existing investors.”
Founded last year by Assaf Rappaport, Yinon Costica, Ami Luttwak, and Roy Reznik, Wiz was established by the same team that founded the firm Adallom, a company sold to Microsoft for $320 million in 2015. The group also built Microsoft’s Azure Cloud Security Group. The firm now has offices in Israel, the US, and Europe and employs over 160 people.
Wiz offers a cloud visibility solution for enterprise security that is designed to provide risk assessment of the cloud and make the cloud work effectively for security teams.
The company emerged from stealth in December 2019 and raised a $100 million Series A funding round.
“Wiz’s growth in the enterprise market is astounding. When you have a proven leadership team like this that’s built a game-changing product, you bet big. Wiz is building security technology the world needs,” said Jeff Horing, Insight Partners co-founder and managing director. He also serves as a Wiz board member.