TLDR:
- Wiz, a cloud security company, stole the show at RSAC with a $12 billion valuation.
- Top VCs like Andreessen Horowitz, Lightspeed Venture Partners, and Thrive Capital backed the funding.
The RSA Conference in San Francisco was abuzz with news of Wiz’s massive $1 billion funding round and $12 billion valuation, overshadowing Palo Alto Networks’ launch of Precision AI with Keanu Reeves. Wiz, founded by a team with a successful track record in cloud security, has seen significant revenue growth. However, the funding comes amid a downturn in VC investments, raising questions about the timing and sustainability of the deal. With rising cybersecurity threats and the convergence of IT and OT, industry experts are looking for more integrated security solutions like Palo Alto’s Precision AI. In a market of falling expectations, Wiz’s valuation has added pressure for a successful exit.
