NYC-based cloud security company Wiz announced Monday that it has raised $300 million in a Series D funding round that values the business at $10 billion.
Wiz, which was founded in March 2020, has raised $900 million in its three years of business. Led by Lightspeed Venture Partners, this latest funding round will fuel Wiz’s hiring efforts and market expansion.
Wiz, which employs 650 people globally, expects to double its employee headcount this year. Of its 650 employees, roughly 100 work out of the company’s NYC headquarters. With its new funding, the company plans to open three additional offices in Austin, Dallas and Washington, D.C.
“We are extremely proud of our growth rate in terms of number of customers, sales and valuation, especially in view of the current market conditions for global high-tech,” Wiz co-founder and CEO Assaf Rappaport said in a statement. “While there are many cybersecurity offerings in the market, Wiz’s explosive growth proves that organizations choose our platform because it allows security and development teams to efficiently identify vulnerabilities and prevent breaches. Wiz also consolidates many fragmented tools into one platform, from vulnerability assessment to data security and permission analysis.”
Wiz’s agentless cybersecurity approach uses an API to scan an organization’s cloud infrastructure, and then that data is analyzed and contextualized with a graph visualization. Wiz alerts customers to their most pressing security vulnerabilities and recommends actions to remedy those security gaps.
Wiz, which was named the best security product for 2023 by G2, is used by more than 35 percent of Fortune 100 companies, as well as other notable names like Salesforce and Slack.
