Wiz, a Palo Alto and Tel Aviv-based cloud infrastructure security company, has now secured $130 million in Series B funding, which brings the valuation to $1.7 billion.
Wiz is founded by the Assaf Rappaport, Ami Luttwak, Yinon Costica, and Roy Reznik. It provides a platform for the companies to secure their cloud infrastructure at scale.
“When our founding team was leading the Microsoft Cloud Security Group, we saw firsthand how security teams struggled with the complexity of existing approaches to securing the cloud,” Rappaport said in December.
“We knew that by embracing a cloud-native approach, we could make a product that is simple to deploy and scale, allowing security teams to focus on real risks. We’re excited to partner with such an experienced and well-respected team of investors again as we look to accelerate our growth in 2021, and meet the market demand for an elegant cloud security platform that works,” he explained.
Wiz latest funding
The round was backed by the Advent Venture Partners with participation from the existing investor’s Index Ventures, Sequoia Capital, Cyberstarts, and Insight Partners.
The company, as of now, has plans to use the new funds to expand operations and its business outreach since its emergency from the stealth three months ago.