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The world's biggest cyber unicorn - from Israel - voila! Of money


Within three years: Wiz becomes the biggest cyber unicorn in the world and raises $300 million at a valuation of $10 billion

Who is the world's biggest cyber unicorn? (Photo: ShutterStock)

Within three years of its founding: the cyber company Wiz raises $300 million at a valuation of $10 billion, becoming the world's largest cyber unicorn.

The main investors in the current round are the Lightspeed Fund and the Greenaux Fund, who are leading the round alongside the existing investors in the company.

Wiz was established in March 2020, its technology is installed in more than 35% of Fortune100 companies and its clients include Morgan Stanley, Colgate, Slack, Salesforce, BMW and more.

The company employs 650 workers, of which about 150 are in Israel, and it is expected to continue recruiting workers, including in Israel.

The company has offices in the USA - in New York and Denver, and it plans to open new offices in Washington DC, Austin and Dallas.

Since its establishment three years ago, the company has raised a total of 900 million dollars, which brought it to a value of 10 billion dollars.

Gili Raanan's Sequoia, Index, Insight Partners and Cyberstarts funds participated in the previous fundraisings and the current one.

Among the prominent private investors in the company are Bernard Arnaud, the richest man in the world;

Howard Schultz, the founder of Starbucks and other notable entrepreneurs.

The world's biggest cyber unicorns (Photo: Wiz)

Assaf Rapaport, co-founder and CEO of Wiz

: "We are very proud of our growth rate in regards to the number of customers, sales and the increase in the value of the company, especially against the background of the difficult market conditions in which global high tech is found.

Wiz's product has proven to be a platform that serves organizations in the field of cloud security, allowing them to unify a number of different systems - from vulnerability assessment, through information protection to advanced authorization analysis, for both security and development teams.

Wiz continues to grow globally, and sells to a variety of organizations from different industries."

Patrick Backhouse, partner at the Greenaux Foundation

: "Wiz is quickly becoming the center of the cloud security industry. Just two years ago, securing the cloud environment was little more than relying on a scattered collection of point solutions and add-ons. Wiz has built a comprehensive cloud-based platform that gives customers actionable insights in minutes, showing them areas of vulnerability theirs, the risks they face and how to resolve them. Rarely do we see a business gain traction or gain customer sympathy so quickly, and we are excited to partner with Assaf and his team as they continue the next chapter of their journey."

Arsham Mamrezada, partner at Lightspeed: "Continued cloud adoption by companies worldwide opens up the next platform opportunity in cyberspace. Wiz has grown to become the gold standard in cloud security with customer sympathy typically reserved for the best consumer app rather than business cyber. Lightspeed is excited to be leading this round." .

The global cyber market is experiencing accelerated growth: according to Israel's National Cyber ​​System, about 40% of global investments in the cyber field are made in Israeli companies, and this is in addition to the research and development centers of global companies operating in Israel.

The White House recently approved a special annual budget of 15.6 billion dollars to protect against cyber attacks on government bodies and federal agencies.

A report by the global PwC shows that 69% of global business organizations expect to increase their procurement budgets for cyber technologies, compared to 55% who answered this in a previous survey. 26% of those surveyed expect that their cyber expenses will increase by more than 10%. Also war Russia's cyber in Ukraine, along with government cyber attacks from Iran and more, increase not only the awareness of business organizations and decision makers in the various governments, but also the need to constantly defend yourself using advanced technology.

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How long did it take companies in the world to reach a value of 10 billion dollars? (Photo: Wiz)

About Wiz

Wiz was founded by Assaf Rapaport, CEO; Ami Lutbek, VP of Technologies;

Yanon Kostika, Vice President of Products, and Roy Reznik, Vice President of Research and Development.

The entire team has been working together for more than 20 years, among other things, as the managers of Microsoft's cloud security group, which purchased Adalum, which they founded, for approximately $320 million.

Wiz enables security and development teams to identify, prioritize and prevent complex cloud risks that cross between the different cloud layers.

The technology scans the cloud environment, on all its different layers, by simply interfacing with an API.

This is how an in-depth analysis of the resources in the cloud is performed, including the network structure, access permissions and configuration errors that could be an opening for attackers.

In addition, the platform also scans the application and software layer and identifies weaknesses and vulnerabilities.

Wiz combines all the findings into one clear picture of the most material risks in the cloud by calculating hundreds of different risks and the contexts between them.

In the last year, Wiz significantly expanded its cloud protection platform, and expanded into other areas, including the security of container environments and Kubernetes, a DSPM solution for protecting sensitive information in the cloud, and a CDR solution - which helps organizations with the detection and prevention of attacks in the cloud.

Wiz's platform allows companies to more fully consolidate cloud security into one tool.

Assaf Rapaport, co-founder and CEO of Wiz (Photo: Omer HaCohen)

  • Of money

  • world money


  • High tech

  • Unicorn

Source: walla

All business articles on 2023-02-27

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