Cloud security giant Wiz announced on Tuesday that it has raised $1 billion at a $12 billion valuation.
The latest funding, which brings the total raised by the company to $1.9 billion, was led by Andreessen Horowitz, Lightspeed Venture Partners, and Thrive Capital, with participation from Greylock, Wellington Management, Cyberstarts, Greenoaks, Howard Schultz, Index Ventures, Salesforce Ventures, and Sequoia Capital.
The company’s cloud security platform provides a wide range of capabilities, including cloud security posture management (CSPM), cloud infrastructure entitlement management (CIEM), vulnerability management, compliance, and code security.
Capabilities also include container and Kubernetes security, supply chain security, cloud-native application protection (CNAPP), data security posture management (DSPM), detection and response, cloud workload protection (CWPP), and Infrastructure as Code (IaC) scanning.
Wiz previously announced raising $300 million in a Series D funding round that valued the company at $10 billion.
The company boasted $350 million in annual recurring revenue in 2023, and now claims to work with 40% of the Fortune 100 companies.
“We will never stop innovating on behalf of our customers,” said Assaf Rappaport, CEO and co-founder of Wiz “Wiz has worked to earn the love of security and development teams; as we bolster our CDR capabilities, SOC teams are also part of that equation.”
“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,” Rappaport added.
The company also took the opportunity to mention “setting its sights on an eventual IPO”.
Wiz recently announced the acquisition of Gem Security, a company specializing in cloud detection and incident response technologies.
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