Cloud Security Firm Wiz Raises $1B At $12B Valuation
Share:
Cloud security startup Wiz locked up the biggest cybersecurity round of the year thus far as it raised $1 billion at a $12 billion valuation.
The round — announced as the industry’s RSA Conference is getting underway in San Francisco — could be another sign of investors coming back to the cybersecurity space. Cyber startups are coming off their best funding quarter in three quarters, and late last month Microsoft-backed data security firm Rubrik had a successful IPO.
Wiz’s latest round was co-led by Andreessen Horowitz, Lightspeed Venture Partners and Thrive Capital, with participation from Greylock, Wellington Management and existing investors Cyberstarts, Greenoaks, Howard Schultz, Index Ventures, Salesforce Ventures 1 and Sequoia Capital.
Founded in 2020, Wiz has raised $1.9 billion, per the company.
Wiz, originally founded in Israel, has been busy of late. Just last month it acquired New York-based cloud detection and response startup Gem Security. The company said the new cash infusion could be used for more deal-making.
The New York-based startup said it achieved $350 million in annual recurring revenue last year. It has talked openly about hitting $1 billion in ARR as it heads to an IPO.
Cyber funding
The round could be another sign funding in the cybersecurity sector is rebounding. In Q1, cybersecurity startups raised nearly $2.7 billion in 154 deals, per Crunchbase data.
That dollar figure is the highest since Q1 last year, when similar startups raised just less than $2.9 billion in 228 deals. However, the Q1 2024 dollar figure represents a 69% increase from the previous quarter, when cyber startups raised just $1.6 billion in 148 deals.
Related Crunchbase Pro query:
- Cybersecurity Funding
Related reading:
- Cybersecurity Funding Shows Resilience In Q1
- Rubrik Shares Rise In Debut After Pricing Above Projected Range
- Nozomi Networks Raises $100M As Investors Eye Industrial Cybersecurity Once Again
- Data Security Startup Cyera Locks Up $300M At $1.4B Valuation
Illustration: Dom Guzman
Salesforce Ventures is an investor in Crunchbase. They have no say in our editorial process. For more, head here.↩
In This News
Share:
In This News
Share:
Cloud Security Firm Wiz Raises $1B At $12B Valuation
Share:
Cloud security startup Wiz locked up the biggest cybersecurity round of the year thus far as it raised $1 billion at a $12 billion valuation.
The round — announced as the industry’s RSA Conference is getting underway in San Francisco — could be another sign of investors coming back to the cybersecurity space. Cyber startups are coming off their best funding quarter in three quarters, and late last month Microsoft-backed data security firm Rubrik had a successful IPO.
Wiz’s latest round was co-led by Andreessen Horowitz, Lightspeed Venture Partners and Thrive Capital, with participation from Greylock, Wellington Management and existing investors Cyberstarts, Greenoaks, Howard Schultz, Index Ventures, Salesforce Ventures 1 and Sequoia Capital.
Founded in 2020, Wiz has raised $1.9 billion, per the company.
Wiz, originally founded in Israel, has been busy of late. Just last month it acquired New York-based cloud detection and response startup Gem Security. The company said the new cash infusion could be used for more deal-making.
The New York-based startup said it achieved $350 million in annual recurring revenue last year. It has talked openly about hitting $1 billion in ARR as it heads to an IPO.
Cyber funding
The round could be another sign funding in the cybersecurity sector is rebounding. In Q1, cybersecurity startups raised nearly $2.7 billion in 154 deals, per Crunchbase data.
That dollar figure is the highest since Q1 last year, when similar startups raised just less than $2.9 billion in 228 deals. However, the Q1 2024 dollar figure represents a 69% increase from the previous quarter, when cyber startups raised just $1.6 billion in 148 deals.
Related Crunchbase Pro query:
- Cybersecurity Funding
Related reading:
- Cybersecurity Funding Shows Resilience In Q1
- Rubrik Shares Rise In Debut After Pricing Above Projected Range
- Nozomi Networks Raises $100M As Investors Eye Industrial Cybersecurity Once Again
- Data Security Startup Cyera Locks Up $300M At $1.4B Valuation
Illustration: Dom Guzman
Salesforce Ventures is an investor in Crunchbase. They have no say in our editorial process. For more, head here.↩
In This News
Share:
In This News
Share: