World Fastest Unicorn: 1.5 Years-Old startup Wiz raises $250 million at $6 billion valuation

Business
Assaf Rappaport CEO and Co Founder Wiz (Company Photo)
Assaf Rappaport CEO and Co-Founder Wiz

Wiz, an Israeli cloud security startup, announced today that it has raised $250 million at a company valuation of $6 billion.

The financing round was led by current investors Insight Partners and Green Oaks. The majority of other previous investors, including Sequoia, Index, Cyberstars, and SalesForce, also participated in the round. Prominent private investors in the company include billionaires Bernard Arno, the chairman and CEO of LVMH Moët Hennessy – Louis Vuitton SE, the world’s largest luxury goods company, and Howard Schultz, the founder of Starbucks. All funds raised should go to the company.

Wiz was founded in March 2020 by the team that led Microsoft’s Cloud Security Group and built the security stack in Azure. CEO Assaf Rappaport, CTO Ami Luttwak, VP Product Yinon Costica, and VP R&D Roy Reznik, have worked together for more than 15 years and previously founded Adallom (acquired by Microsoft for $320 million), which is now the #1 Cloud Access Security Broker in the market.

Wiz raised money six months ago with a $1.7 billion value.

CEO and co-founder Assaf Rappaport said: “It is amazing how exciting the last year and a half have been in terms of business despite the corona. When I recall the concerns we had in March 2020, when we founded Wiz, I realize today how much our ability to adapt quickly to a changing reality is what makes us grow at a tremendous pace and become a truly global company. But leave the numbers for a moment: the achievement I am most proud of is the team we built – in the end, this is the main basis for our success. “

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