Israel cloud security company Wiz today emerged from stealth with a $100 million Series A financing round from Index Ventures, Sequoia, Insight Partners and Cyberstarts.
The new financing will help the company grow to meet customer demand for cloud security solutions that provide complete risk visibility and are simple to deploy at scale. Doug Leone, global managing partner at Sequoia Capital, Shardul Shah, partner at Index Ventures, Jeff Horing, managing director at Insight Partners, and Gili Raanan of Cyberstarts will be joining the Wiz board of directors.
With offices in Tel Aviv and Palo Alto, Wiz was founded in January 2020 by CEO Assaf Rappaport, CTO Ami Luttwak, VP Product Yinon Costica and VP R&D Roy Reznik - the same team that founded Adallom, which was sold to Microsoft for $320 million in 2015, and led Microsoft's Cloud Security Group,
Rappaport said, "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 has designed its product from the ground up to provide visibility and risk insights to allow security professionals to focus on things that matter most. The company's architecture allows for seamless scanning of the entire cloud environment across all compute types and cloud services for vulnerabilities, configuration, network, and identity issues without agents or sidecars.
Published by Globes, Israel business news - en.globes.co.il - on December 9, 2020
© Copyright of Globes Publisher Itonut (1983) Ltd. 2020