The relatively new startup founded by Assaf Rappaport has yet to celebrate its second birthday, but that doesn’t seem to bother the company from completing yet another 9-digit funding round, which are usually preserved for veteran companies. According to a Bloomberg report, Wiz has secured $120 million from Salesforce.
“Records may have been broken”
Wiz develops cloud security systems that provide enterprises with complete visibility over their cloud environment; helping detect vulnerabilities, faulty configurations, and authentication issues. The platform allows CISOs to monitor and manage risk in the cloud on a single dashboard. According to Wiz, this takes just a few minutes to integrate and requires no special modifications on the customers’ side.
Wiz was founded by the same entrepreneurs behind Adallom, a startup acquired by Microsoft for $320 million. After slowly melting into Microsoft’s cyber division, Rappaport found himself moving up in the company, so far as taking on the role of General Manager of Israel R&D. In an interview with Geektime, he said that after seeing the Israeli R&D center standing on its own, showing that success wasn’t a one time thing. “I started thinking it was time to leave. Once it’s in your head, then it’s time to go.”
Two months after leaving Microsoft, the team from Adallom announced the founding of Beyond and a $21 million funding round. Less than a year later, the company came out with another funding announcement. This time securing $100 million. “Records may have been broken. We saw both customer and revenue grow very quickly,” said Rappaport to Geektime.
Wiz might be a strong up-and-comer in the security game, but the company’s last few deals were all leaked to the press. Early 2021, a $130 million funding round leaked in a CNBC story, transforming Wiz into yet another Israeli Unicorn company, and the quickest to that status, carrying a $1.7 billion valuation. Even the Bloomberg report has yet to be officially approved by the company. Wiz has raised $350 million to date. The current post money valuation is still unknown.
Wiz refused to respond to Geektime’s inquiry.