Hotshot cloud security vendor Wiz on Thursday announced a deal to acquire Dazz, adding an AI-powered cloud security remediation engine to its suite of enterprise products.
Financial terms of the deal were not released but industry sources confirm the price tag is in the range of $450 million.
Dazz, based in Israel, raised about $110 million from prominent investors like Greylock, Cyberstarts, Insight Partners and Index Ventures.
Wiz chief executive Assaf Rappaport confirmed the transaction in a note signaling ambitious plans to “reinvent” the ASPM (application security posture management) and code-to-cloud remediation business.
Rappaport hyped the value of Dazz’s remediation engine to empower security teams to correlate data from multiple sources and manage application risks in one unified platform.
“Their advanced mapping capabilities pinpoint root issues, enabling engineers to address vulnerabilities directly in the code while seamlessly integrating vital cloud context into security workflows,” he said of the Dazz technology.
Back in July this year, Dazz bagged a $50 million investment round that validated its technology and bets on AI-powered risk prioritization and remediation business.
Dazz launched in 2021 with plans to transform legacy vulnerability management and remediation processes through AI, automation, and root-cause analysis technologies.
The company is the brainchild of a team of Ex-Microsoft security engineers along with security leaders from Armis, Adallom and Claroty.
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