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Cloud Security Company Wiz Raises $250 Million at $6 Billion Valuation

Wiz on Monday announced raising $250 million in a Series C funding round, which brings the total raised by the cloud security company to $600 million.

Wiz on Monday announced raising $250 million in a Series C funding round, which brings the total raised by the cloud security company to $600 million.

The company was founded in January 2020 by the people who founded cloud security firm Adallom, which Microsoft acquired in 2015 for $320 million. Wiz emerged from stealth mode in December 2020 with $100 million in funding. In March 2021, it announced raising another $130 million, at a valuation of $1.7 billion.

Now, six months later, the company raised $250 million from Insight Partners, Greenoaks Capital, Sequoia Capital, Index Ventures, and Salesforce Ventures, at a valuation of $6 billion.

Wiz is based in Palo Alto, California, and Tel Aviv, Israel. The startup has developed a platform that organizations can use to scan their cloud configurations and workloads, assess cloud architectures and risk factors, identify critical risks, and harden their cloud environments.

The company says its product is used by major companies such as Fox, Salesforce, DocuSign, Blackstone, and Slack.

“[Wiz] gives companies nearly instant coverage of their entire multi-cloud environment, and correlates risks to separate signal from noise. We don’t just identify risks – we prioritize them and find attack vectors no other technology can,” said Assaf Rappaport, CEO of Wiz. “But we don’t stop there. We also have a dedicated team of security researchers (ethical hackers) whose sole job is to find new attack surfaces in the cloud that put our customers at risk.”

In recent months, Wiz disclosed several potentially serious vulnerabilities, including the OMIGOD flaws affecting Azure customers and the Cosmos DB vulnerability dubbed ChaosDB. They also identified a new DNS attack method that enables nation-state level spying.

Related: JumpCloud Raises $159 Million at $2.56 Billion Valuation

Related: Cloud Security Company Orca Raises $210 Million at $1.2 Billion Valuation

Related: OwnBackup Raises $240 Million at $3.35 Billion Valuation

Written By

Eduard Kovacs (@EduardKovacs) is a contributing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.

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