In a new record for the Israel Tech industry and a record in cyber security and info sec startup ecosystem. raises above all is Wiz with a shocking number of $1B which follows another massive capital raise of $300M in less than a year ago, With valuation of $8b, now, at $12B valuation it’s hard to belive that Wiz is less than 4 years old founded by Assaf Rappaport, Yinon Costica, Roy Reznik, Ami Luttwak at 2020 and today holds 900 employees, specially following recent acquisition in the cyber security eco system of other smaller companies.
| Round Type | Raise Date | Description | Raised | Investors |
|---|---|---|---|---|
| Series A | December 2020 | Wiz emerged from stealth by raising $100 million from Index Ventures, Sequoia Capital, Insight Partners, and Cyberstarts. | $100 million | Index Ventures, Sequoia Capital, Insight Partners, Cyberstarts |
| Series B | April and May 2021 | Wiz raised $130 million and $120 million (respectively) on a $1.7 valuation. | $250 million | Index Ventures, Sequoia Capital, Insight Partners, Cyberstarts |
| Series C | October 2021 | Wiz raised $250 million on a $6 billion valuation. | $250 million | Insight Partners, Greenoaks Capital, Sequoia Capital, Salesforce Ventures, CyberStarts, Bernard Arnault, Howard Schultz |
| Series D | February 2023 | Wiz raised $300 million on a $10 billion valuation. | $300 million | Lightspeed Venture Partners, Greenoaks Capital, Bernard Arnault, Howard Schultz |
Some might suggested that such large growth and valuation is unrealistic, however, Many information security industry experts estimate that cloud services will continue to grow and therefore cloud cyber security threats will require more complex security solutions. Protecting data with compliance, ISO, SOC2 and other tools and services is crucial for any company in the near future. With laws, legislation and even upcoming big events like conflicts between countries it’s essential for companies to invest and pour a lot of money into cyber security.
| Type of Vulnerability | Date Publish | Product Vulnerability | Description |
|---|---|---|---|
| ChaosDB | Unknown | Microsoft Azure’s Cosmos DB | Flaws in Cosmos DB that allowed for downloading, deleting, or manipulating databases of Azure customers. |
| OMIGOD | Unknown | Open Management Infrastructure (OMI) | Bugs in OMI, an agent embedded in Azure services, allowing unauthenticated remote code execution and privilege escalation. |
| NotLegit | Unknown | Azure App Service | Insecure default behavior in Azure App Service exposing source code of customer applications. |
| ExtraReplica | Unknown | Azure Database for PostgreSQL Flexible Server | Critical vulnerabilities allowing malicious users to escalate privileges and access other customers’ databases after bypassing authentication. |
| AttachMe | Unknown | Oracle Cloud Infrastructure (OCI) | Cloud isolation vulnerability in OCI storage volumes that could allow unauthorized access and modification of other users’ volumes. |
| Hell’s Keychain | Unknown | IBM Cloud Databases for PostgreSQL | A supply-chain vulnerability allowing remote code execution in victims’ environments. |
| BingBang | Unknown | Azure Active Directory (AAD) | A misconfiguration in AAD that enabled researchers to modify Bing.com search results, potentially leading to the theft of Office 365 credentials and access to private emails and documents of users. |
In closed doors Wiz source suggest that they are tapping $350M in AAR this year and they expect this number to continuously grow over the upcoming years. Hence the big raise in capital. “The Capital we raise will allow us to compete with current old school Cyber Security Companies and offer variety of security solutions and services to our customers”.
Wiz Secret Road to $12B
It’s an industry secret to what make a startup company such a booming success, outsiders might not know that the war on hiring great talent can make it or break it for startup companies and is the very much be the big different between $450M sell valuation by recently acquired NoName cyber security company (with $220M in investments) to a $12B valuation.
Wiz secret lays within it’s origin of it’s own employees, a lot of them are simply ex-microsoft cyber security department that are well familiar with the company own vulnerabilities and future problems of it’s hundreds of cloud services. Those talented employees and engineers are the one that create a new categories of cyber security within Wiz itself, meaning when you hear about Cloud Detection and Response or other new services like oAuth providers are all made by talented engineers. Those talented engineers take huge part of new services, cyber security solutions that are imminent treat to big companies out there that will be willing to pay what-ever amount needed to close those security vulnerabilities and avoid law complications that in some cases can result with personal liability of certain company owners.
I am a software engineer with 20 years of experience of writing code, Software languages, Large scale web application, security and data protection of online digital assets in various software systems and services. I’ve decided to write and share my interests in cyber security online and information security to help and improve white hat security, safety and privacy of our online digital assets, As companies, as individuals or experts providing services. In here you’ll be able to read freely about cyber security threats, detections, common problems, services, news and everything related to information security and cyber security – enjoy and feel free to contact me via the contact page for any question.