This is an increase compared to the previous value of the company which was 10.3 billion dollars in 2023. It should be noted that the new income positions the company as the largest private cyber company in the world – Israeli pride.
The successful fundraising will help the company to continue operations to locate tech companies for future mergers and acquisitions and for new product development.
The company closed the year 2023 in which it earned 350 million dollars. According to them, the goal is to reach sales of about a billion dollars in the future.
The company was helped in this amazing fundraising round by the American investment fund Andreessen Horowitz and other investors.
Wiz develops a cyber defense system, which is mainly intended for cloud environments, and allows organizations that use it to get a complete overview of all their cloud environments and to locate weaknesses, problems and identification problems that lead to hacks and information leaks. And so it allows the information security managers within the organizations to clearly understand all the risks to their cloud environment in one place, without changing anything in the environment itself – by implementing it in a few minutes on any cloud platform.
The company was founded in 2020 by 4 talented Israeli entrepreneurs: Assaf Rappaport, Ami Lutbek, Yanon Costica and Roy Reznik. They are the ones who sold Adallom to Microsoft for $350 million, and managed to hold senior positions in the company’s Israeli development center afterward. Not long ago, the four of them entered Forbes magazine’s list of billionaires.
One of the company’s entrepreneurs, Assaf Rappaport, said that “the main task before our eyes is to continue to drive innovation for our customers – and to give added value to the security and development teams that use our platform. The current recruitment round will help us continue to solve the most complex challenges in the field of cloud security, as well as help organizations promote consolidation processes among the security tools they use.”
“Wiz’s growth to date has been unprecedented and we have reached a point where a strong infrastructure needs to be built to continue breaking records and leading the market. Our goal now is to reach one billion dollars in sales and go public in New York.” This is what Wiz president Dali Rajic says in an interview with the Israeli financial news outlet Calcalist.
