Cloud Security Startup Wiz Announces New $1B Funding Round

Cloud security startup Wiz has announced a new funding round of $1 billion on a $12 billion valuation, which brings its overall funding to $1.9 billion.  

Wiz analyzes infrastructure hosted in public cloud services for risk factors that could allow hackers to gain control of assets and obtain sensitive customer data.

The company, founded in 2020 in Tel Aviv and today headquartered in New York, said last year it had become the world’s largest cybersecurity unicorn (company valued at $1 billion or more) and the fastest SaaS (Software-as-a-Service) company to achieve a $10 billion valuation – making it a decacorn.

The latest round of funding was led by American VC firms Andreessen Horowitz, Lightspeed Venture Partners and Thrive Capital, along with a raft of other new and existing investors.  

“We will never stop innovating on behalf of our customers,” said Wiz co-founder and CEO Assaf Rappaport. 

“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,” he said. 

“Wiz is a cloud security pioneer and has demonstrated remarkable agility, adaptability, and a keen understanding of market dynamics,” said Sarah Wang, General Partner at Andreessen Horowitz. 

“This has enabled smart growth and positioned them as a power player in the cybersecurity space.”