The Israeli cyber company Wiz announced a capital raising of 300 million according to a value of 10 billion dollars and thus becomes the largest cyber unicorn in the world.
In the announcement on the occasion of the recruitment, CEO and founder Assaf Rapaport addressed the issues on the agenda. He opened his remarks by expressing condolences to the families of those killed in yesterday's attack and continued by referring to the struggle against the legal reform.
"We share in the grief of the families who lost their loved ones in the last day and are concerned about the rapid security deterioration on both sides," the statement said.
Later, Rapaport announced that the fundraising funds would not enter Israel: "In light of the coup d'état, the money we raised will not enter Israel. Our greatest concern regarding Israeli hi-tech is not only the funds that are leaving Israel, but also the many funds that will no longer enter Israel. I hear voices from all over of worried investors, of entrepreneurs who secretly withdraw money from the country, and of workers who fear for their future in Israel."
Rapaport's announcement also states that "the Wiz company has succeeded until today thanks to an amazing ecosystem that exists in Israel, but it is currently facing an existential threat. I believe and hope that the voices of pain rising from all parts of the people will bring the government to focus on the security events, stop the legislative moves and strive for a real compromise that is acceptable to All sides."
Rapaport did not respond to Israel Hayom's request to give examples of these voices of concern from the business discourse that is raging behind the scenes.
Expanding in the US
Wiz was founded in March 2020, and according to the company, its technology is installed in more than 35% of "Fortune 100 companies".
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 New York and Denver in the USA, and plans to open new offices in Washington DC, Austin and Dallas.
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 - Sequoia Funds, Index, Insight Partners and Gili Raanan's Cyberstarts.
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.
In the announcement about the recruitment, Rapaport said: "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, and allows them to unite several different systems - from vulnerability assessment, through information protection to advanced authorization analysis, both for security teams and for development teams. Wiz continues to grow globally, and is sold to a variety of organizations from different industries."
Patrick Backhouse, partner at GreenOx Foundation, said: "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 plug-ins. Wiz has built a comprehensive cloud-based platform that provides customers with actionable insights Within minutes, and shows them their areas of vulnerability, the risks they face and how to solve them."
The founding team has been working together for 20 years
Wiz was founded by CEO Assaf Rappaport, CEO, CTO Ami Lutbek, VP of Products Yanon Kostika, and VP of Research and Development Varoi Reznik. The entire team has been working together for more than twenty years, among others, as managers of the cloud security group of Microsoft which purchased the "Adalum" company they founded for about 320 million dollars.
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.
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