Israeli cloud security startup Wiz emerges from stealth with $100M in funding
Israeli cloud security startup Wiz Inc. has emerged out of stealth with the announcement of $100 million in new funding to allow it to scale up to meet customer demand.
The Series A round included Index Ventures, Sequoia Capital, Insight Partners and Cyberstarts. Under the deal, Doug Leone, global managing partner at Sequoia Capital, Shardul Shah, partner at Index Ventures, Jeff Horing, managing director at Insight Partners and Gili Raanan of Cyberstarts are joining the Wiz board.
The company was founded in January by Assaf Rappaport, Ami Luttwak, Yinon Costica and Roy Reznik, former leads of Microsoft’s Cloud Security Group and the founding team of Adallo Inc., a cybersecurity startup acquired by Microsoft for $320 million in 2015. Wiz is developing a cloud security product that is designed to help companies secure their cloud infrastructure.
Wiz’s technology builds an up-to-date representation of a company’s cloud setup across network, identity, compute, application, vulnerabilities and secrets, presenting all the information in one place at any scale to deliver quicker insights and informed decision-making. The service offers a risk-weighted view that allows users to assess vulnerabilities and misconfigurations based on severity, exposure, exploitability, blast radius and business impact.
Support is available for Amazon Web Services Inc., Microsoft Corp.’s Azure, Google Cloud Platform and Kubernetes application programming interfaces with the promise of turnkey setup with zero friction.
“When our founding team was leading the Microsoft Cloud Security Group, we saw firsthand how security teams struggled with the complexity of existing approaches to securing the cloud,” Rappaport, co-founder and chief executive officer of Wiz, said in a statement. “We knew that by embracing a cloud-native approach, we could make a product that is simple to deploy and scale, allowing security teams to focus on real risks.”
Despite coming out of stealth only today, Wiz debuts with paying customers already using its service, including Fortune 100 companies. According to Forbes, one existing Wiz client is DocuSign Inc.
Along with its main office in Tel Aviv, Israel, Wiz also has an office in Palo Alto, California.
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