Venture Capital: Cloud Security Startup Wiz Nabs $300M Series D Financing

February 28, 2023 | News, Venture Capital

Wiz commanded a valuation of $10 billion in the funding round. It has become the world’s largest cybersecurity unicorn and fastest SaaS company to reach a 10B valuation.

Wiz, a cloud security provider, has raised $300 million in a recent funding round, led by Lightspeed Venture Partners and supported by Greenoaks Capital Partners and Index Ventures. Its latest valuation is now $10 billion, making it the largest cybersecurity unicorn globally and the fastest SaaS company to reach such a valuation.

More than 35% of Fortune 100 companies use Wiz’ services, such as BMW and Morgan Stanley, along with Salesforce, Slack, Colgate, and Blackstone. (CISION PR Newswire)

G2, the world’s largest software marketplace, also named Wiz as the Best Security Product for 2023.

During 2022, the company expanded its cloud security platform by adding modules for container and Kubernetes security, data security posture management, and cloud detection and response.

This expansion has allowed organizations to consolidate their cloud security program into a single platform built specifically for the cloud.

Wiz plans to add more employees to their existing 650 employees in the US and globally and open three new offices in Austin, Dallas, and Washington, DC. The funding will also support Wiz’s global expansion in EMEA and APAC.

Since its founding in March 2020, Wiz has raised $900 million from investors, including Sequoia Capital, Insight Partners, Blackstone, and G Squared.

The startup is also backed by private investors and entrepreneurs such as Bernard Arnault, the world’s wealthiest individual, and Howard Schultz, Starbucks founder.

Patrick Backhouse, Partner at Greenoaks, said: “Wiz is rapidly becoming the center of the cloud security ecosystem. Just two years ago, securing the cloud environment meant relying on a scattered collection of point solutions and add-ons. But today, Wiz has built a comprehensive cloud-native platform that gives customers actionable insights within minutes, showing them their areas of vulnerability, the risks they face, and how to resolve them.”

Related Story:  Cyber Security Firm Netskope Raises $401M From Top Notch Investors

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Artificial Intelligence: AMD Takes On Rivals In The AI Chip Sweepstakes
December 7, 2023     Artificial Intelligence, News

Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while…
Digital Assets: Robinhood Debuts Crypto Trading On Its App In The EU
December 7, 2023     Digital Assets, FinTech, News

Robinhood (NASDAQ: HOOD) has launched its Crypto app in the European Union (EU), allowing eligible customers to engage in crypto trading with the added incentive of earning Bitcoin rewards. Customers…
FinTech: Samsung Electronics Ties With Mastercard’s Wallet Express
December 7, 2023     FinTech, News

Samsung Electronics (KRX: 005930) and Mastercard (NYSE: MA) have partnered to launch the Wallet Express program, offering banks and card issuers a cost-effective way to expand digital wallet offerings. Through…
Venture Capital: Revaia, Europe’s Biggest Female-Led VC Firm, Racks Up $160M For Second Fund
December 7, 2023     ESG and Sustainability, News, Venture Capital

Revaia, Europe’s largest female-founded venture capital firm, has successfully raised €150 million ($160 million) for its second fund, Revaia Growth II. The funding was secured from sovereign wealth funds, family…