TLDR:
- Wiz, a cloud security company, raised $1 billion in funding at a $12 billion valuation.
- The funding round was led by Andreessen Horowitz, Lightspeed Venture Partners, and Thrive Capital.
Wiz, a NYC-based cloud security company, secured $1 billion in funding at a $12 billion valuation. The funding round, led by Andreessen Horowitz, Lightspeed Venture Partners, and Thrive Capital, brought total funding to $1.9 billion. The company plans to use the funds for future M&A efforts, talent recruitment, and product development. Wiz recently acquired Gem Security, a Cloud Detection and Response provider, as it expands its Cloud Native Application Protection Platform (CNAPP) and considers an eventual IPO. Founded in 2020, the company secures the cloud environments of organizations like Salesforce, Slack, BMW, and others, achieving $350 million in ARR in 2023.
