Cloud security company Wiz bags $100m in Series A round
US and Israel based cloud security company Wiz has emerged from stealth by securing $100 million in a Series A funding round led by Index Ventures, Sequoia, Insight Partners, and Cyberstarts.
The latest financing is said to come nine months after the founding team of the cloud security provider wrote its first line of code.
It is expected to help Wiz scale to cope up with customer demand for cloud security solutions that offer total risk visibility and are easy to deploy at scale.
Assaf Rappaport – CEO and co-founder of Wizsaid: “When our founding team was leading the Microsoft Cloud Security Group, we saw firsthand how security teams struggled with the complexity of existing approaches to securing the cloud.
“We knew that by embracing a cloud-native approach, we could make a product that is simple to deploy and scale, allowing security teams to focus on real risks. We’re excited to partner with such an experienced and well-respected team of investors again as we look to accelerate our growth in 2021, and meet the market demand for an elegant cloud security platform that works.”
Wiz was established in January 2020 by the former leads of Microsoft’s Cloud Security Group and also the founding team of Adallom, which was purchased in 2015 by Microsoft for $320 million.
Doug Leone – global managing partner at Sequoia Capital said: “When we first met the Wiz founding team in 2012 during the early days of Adallom, it was clear they were a passionate group with a deep understanding of the security space.
“Eight years later, the team has only gotten stronger with the founding of Wiz. Their past experiences executing at scale and their hunger to build an enduring company will help Wiz lead the market with a new generation of cloud security tools.”