Cloud Security Firm Wiz Emerges From Stealth With $100M in Funding
Cloud security startup Wiz on Wednesday emerged from stealth mode with $100 million in Series A funding.
The money came from Index Ventures, Sequoia, Insight Partners and Cyberstarts, and Wiz says it plans on using it to scale and meet customer demand for its cloud security solutions.
Wiz claims the first lines of code were written by its founding team just nine months prior to securing the funding, and the company says its platform is already used by Fortune 100 companies.
Wiz is based in Palo Alto, California, and Tel Aviv, Israel. It was founded in January 2020 by the people that founded cloud security company Adallom, which Microsoft acquired in 2015 for $320 million. Following the acquisition, they led Microsoft’s Cloud Security Group.
The startup offers a cloud visibility solution for enterprises that provides a complete view of security risks across clouds, workloads and containers, without the need for agents.
Organizations can use it to identify misconfigurations and vulnerabilities, and assess them based on severity, exposure, exploitability and business impact.
“When our founding team was leading the Microsoft Cloud Security Group, we saw firsthand how security teams struggled with the complexity of existing approaches to securing the cloud,” said Assaf Rappaport, CEO and co-founder of Wiz.
“We knew that by embracing a cloud-native approach, we could make a product that is simple to deploy and scale, allowing security teams to focus on real risks. We’re excited to partner with such an experienced and well-respected team of investors again as we look to accelerate our growth in 2021, and meet the market demand for an elegant cloud security platform that works,” Rappaport added.