Cloud Security Firm Wiz Raises Whopping $1 Billion at $12 Billion Valuation

Wiz is reporting a $1 billion funding round that delivers a $12 billion valuation for the firm. In total, Wiz reports that it has raised $1.9 billion in funding.

According to the company, the funding was led by big-name investors, including Andreessen Horowitz, Lightspeed Venture Partners, and Thrive Capital. Greylock, Wellington Management, and existing investors Cyberstarts, Greenoaks, Howard Schultz, Index Ventures, Salesforce Ventures, and Sequoia Capital participated.

Wiz is also reporting an ARR of $350 million in 2023.

Founded in 2020, Wiz claims to be one of the fastest-growing software companies in the world. The company has already signed up 40% of the Fortune 100 as clients. Wiz aims to identify and remove critical risks in cloud environments.

Wiz recently acquired Gem Security, a Cloud Detection and Response (CDR) provider.

Wiz CEO and co-founder Assaf Rappaport said they will use the money to continue to solve customer challenges in a complex cloud security environment.

Wiz is a cloud security pioneer that has demonstrated remarkable agility and a keen understanding of market dynamics, said Sarah Wnag at Andreessen Horowitz.

“This has enabled smart growth and positioned them as a power player in the cybersecurity space.”

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