An Estimated $10 Billion Valuation Is Announced For Cloud Security Leader Wiz In Its $300 Million Series D Financing Round

Wiz becomes the largest cybersecurity unicorn in the world and the fastest SaaS startup to attain a 10B valuation three years after the company was founded as a result of rapid global demand for its cloud security platform.

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A leader in cloud security, Wiz, has received $300 million at a $10 billion valuation, led by Lightspeed Venture Partners and including current investors Greenoaks Capital Partners and Index Ventures, three years after its founding. Wiz is now the largest cybersecurity unicorn in the world and the fastest SaaS company to reach a $10 billion valuation. It is valued at $10 billion.

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More than 35% of Fortune 100 companies, including BMW and Morgan Stanley, as well as other top businesses like Salesforce, Slack, Colgate, and Blackstone, have validated their use of Wiz's product, showing the demand for it and proving that Wiz's approach to cybersecurity is the future of the sector. Moreover, G2, the biggest software marketplace in the world, gave Wiz the Best Security Product for 2023 award earlier this month.

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Wiz has added modules for Container and Kubernetes security, Data Security Posture Management (DSPM), and Cloud Detection and Response (CDR) to its cloud security platform (CSPM & CNAPP) in 2022, enabling organizations to further consolidate their cloud security program to a single platform that is truly built for cloud.

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Wiz will continue to grow its workforce with the best talent and will continue to expand in the U.S. market, including the federal government in its efforts to secure the country from cyberattacks. The company, founded in March 2020 and headquartered in New York, plans to add additional headcount to its existing 650 employees in the U.S. and globally, as well as open three new U.S. offices in Austin, Dallas, and Washington, DC. Additionally, the money will help EMEA and APAC continue their global expansion.

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Wiz has raised $900M from investors since its launch almost three years ago, including Sequoia Capital, Insight Partners, Blackstone, and G Squared. The company is also funded by significant private investors and famous entrepreneurs such as the world's wealthiest people, Bernard Arnault, and Starbucks founder, Howard Schultz

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Supporting Quotes:

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Despite the current high-tech market conditions, Wiz is extremely proud of its growth rate in terms of number of customers, sales, and valuation, according to Assaf Rappaport, co-founder and CEO of Wiz. Although many cybersecurity services are available on the market, Wiz's explosive growth proves that organizations choose Wiz because it allows security. Wiz's explosive growth has shown that organizations choose our platform to identify vulnerabilities and prevent breaches due to the efficiency with which it identifies them. The Wiz platform also combines many fragmented tools into a single platform, such as vulnerability assessments, permission analysis, and data security. As a result of this capital raise, we will be able to expand globally, support our commitment to continued innovation, and diversify our customer base across a range of industries.

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Just two years ago, securing the cloud environment required relying on a dispersed assortment of point solutions and add-ons. However, today, Wiz has developed a comprehensive cloud-native platform that gives customers actionable insights within minutes, showing them their areas of vulnerability, the risks they face, and how to resolve them. Patrick Backhouse, Partner at Greenoaks, said: "Wiz is rapidly becoming the center of the cloud security ecosystem.

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"The ongoing use of the cloud opens up the next platform opportunity in cyber," said Arsham Memarzadeh, Partner at Lightspeed Ventures. "Wiz has evolved into the gold standard for cloud security with customer affection generally saved for the finest consumer app rather than a cyber business."

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Blackstone's Chief Security Officer, Adam Fletcher, stated:

Wiz has all of the capabilities we've identified as core to our cloud security strategy, and I look forward to seeing them continue to grow. As the cloud providers engineer new solutions that require new security technologies, I'm confident that Wiz will develop them. I see Wiz as the cloud security platform for people who understand how to protect the cloud.