Wiz eyeing hundreds of millions of dollars in new funding at over $10 billion valuation
Wiz eyeing hundreds of millions of dollars in new funding at over $10 billion valuation
According to the Financial Times, the cybersecurity unicorn, which has already raised $900 million to date, is in talks with investors including Thrive, Lightspeed Venture Partners and G Squared
Cybersecurity unicorn Wiz is in negotiations to raise hundreds of millions of dollars at a valuation of over $10 billion, the Financial Times has reported. According to the FT, Wiz is in talks with investors including Thrive, Lightspeed Venture Partners and G Squared. Sequoia and Israeli cyber venture group Cyberstarts were also mentioned as being interested in participating in the fundraising.
The Israeli cloud security company revealed last month that it had reached an impressive $350 million in Annual Recurring Revenue (ARR) just four years since its inception. Wiz, which serves over 40% of the Fortune 100, also announced the appointment of Dali Rajic as President and Chief Operating Officer. Rajic, the former President and COO of Zscaler, was brought in to “help steer the company through the next phases of its rapid growth on the road to IPO,” according to the company.
Wiz, which raised $300 million in a Series D at a $10 billion valuation last February, has set itself a target of reaching a billion dollars in sales. With 900 employees across the U.S., Europe, Asia, and Israel, it plans to add 400 workers globally in 2024.
Wiz customers include Salesforce, Slack, Mars, BMW, Avery Dennison, Priceline, Cushman & Wakefield, DocuSign, Plaid, and Agoda, among others. Wiz is backed by Sequoia, Index Ventures, Insight Partners, Salesforce, Blackstone, Advent, Greenoaks, Lightspeed and Aglaé.
