Assaf Rappaport CEO and Co-Founder Wiz (Company Photo)
Israeli startup Wiz a fast-growing cloud security innovator that remained in stealth mode until now has raised $100 million in new investments.
The funds came in a Series A financing from Index Ventures, Sequoia, Insight Partners, and Cyberstarts.
Wiz was founded just 9 months ago by Assaf Rapaport, former manager of R&D at Microsoft Israel which built the security stack in Azure. Rapaport and his team in Israel founded Adollam, which was sold to Microsoft in 2015 for $320 million. Adollam is now the #1 Cloud Access Security Broker in the market.
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Together with Rapaport Wiz’s co-founders have worked together for more than 15 years: CTO Ami Luttwak, VP Product Yinon Costica, and VP R&D Roy Reznik. All of whom founded Adallom.
All Adollam investors have participated in Wiz financial round.
Israel’s most renowned cybersecurity firm Check Point defines cloud computing as the delivery of hosted services, including software, hardware, and storage, over the Internet. The benefits of rapid deployment, flexibility, low up-front costs, and scalability, have made cloud computing virtually universal among organizations of all sizes, often as part of a hybrid/multi-cloud infrastructure architecture.
Cloud security, in turn, refers to the technologies, policies, controls, and services that protect cloud data, applications, and infrastructure from threats.
Just yesterday, Google suffered a blackout that shut out hundreds of millions of people not only from their Gmail accounts but also services like Google Docs and Google Drive. Google, along with Microsoft and many other companies, offers these services in an online cloud. This means that users’ data and files are stored online and not on their computers.
As more companies move to their own cloud-based servers for storing information and programs, the need to adequately secure all of this cloud-based work is vital. This explains why a new cloud security firm could be so valuable, especially if it offers a quality service.
So what is it that Wiz does exactly?
Wiz builds an “up-to-date representation” of your cloud setup across network, identity, compute, application, vulnerabilities, and secrets. Everything is in one place, at any scale, for “quicker insights and informed decision-making. We do the heavy lifting, you get total visibility.”
“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,” said Assaf Rappaport, CEO, and co-founder of Wiz.
“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.”
