Wiz acquires Raftt to increase its cloud security capabilities
Security firm Wiz Inc. announced today its first corporate acquisition, a fellow Israeli cybersecurity firm Raftt.
Raftt has been operating for three years and had raised $5 million from a variety of private and public venture capital firms, including Adi Sharabani, founder of Skycure Ltd. and currently at Snyk Ltd., and Ariel Asraf, chief executive of Coralogix Ltd. Terms of the deal weren’t announced, although a Bloomberg report pegged the total value at between $40 million and $50 million.
Raftt has focused on securing cloud-based application development pipelines and frameworks and has about 20 employees. “The opportunity to be part of Wiz was one we couldn’t pass up,” said Roy Iarchy, co-founder and CEO of Raftt. “At Raftt we lived and breathed the world of developers.” The company’s tool allows developers to move their runtime environment to the cloud for testing and debugging using a variety of existing local tools.
“Wiz now brings a unified view from runtime to development, clear risk analysis, and simplified operations that breaks down the operational silos between security and dev teams,” Wiz CEO Assaf Rappaport told SiliconANGLE. “The Raftt team will help us introduce new capabilities for preventing costly production issues at the source.” The company predicted it will integrate Raftt’s features into its flagship platform within a few months.
Wiz already has a strong developer base: More than half of Wiz users sit outside the security function, according to company representatives. The acquisition will allow security and development teams proactively and collaboratively to reduce their attack surface from build time to runtime.
Wiz exceeded $250 million in revenues this year and had raised $300 million in a funding round this past February. Merging the two companies staffs will at least be easy logistically: They have offices within a few miles of each other in Tel Aviv.
Image: Wiz
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