Dazz, a cybersecurity firm, reports having closed a $50 million funding round. Greylock led the round, which included Cyberstarts, Insight Partners, and Index Ventures. In total, Dazz has raised $110 million in funding.
Launched in 2021, Dazz focuses on “legacy vulnerability management” and addressing these challenges – which can be profound. By tapping into AI, Dazz enables security and engineering teams to identify and fix vulnerabilities in hours instead of weeks.
Dazz is already being utilized by some well-known names like Capital, BHG Financial, and more.
The company reports that, to date, customers have benefitted from automatically finding and managing 1.2 billion vulnerabilities and resolving close to 500 million issues at root causes.
From FY2023 to FY2024, Dazz reports a 400% increase in ARR while expanding its footprint across all functions in the U.S., Europe, and Israel.
Merav Bahat, Dazz co-founder and CEO, says security breaches occur about once every 11 seconds. The rise of AI is a double-edged sword, as attacks can be more effective.
“At Dazz, we are experiencing remarkable business momentum, thanks to a critical market gap that Dazz uniquely addresses. The last year proved that our innovation and execution leads to unprecedented growth, which this new round of funding will accelerate. We are honored and excited to deepen our collaboration with the world’s top cyber investors, with their unwavering trust and support fueling our mission to simplify cloud remediation and help our customers harness the power of AI to prevent attacks.”
Dazz was co-founded by Bahat, Tomer Schwartz, CTO, and Yuval Ofir, VP of R&D.