RAFTT Team (company PR pic)
Wiz, an Israeli unicorn that offers an API security platform, has acquired fellow Israeli firm Raftt, a startup that offers a cloud-based platform for creating and sharing development environments. The acquisition price was not disclosed and Raftt only came out of stealth mode a little over a year ago with a $5 million seed funding round.
As for Wiz, this marks its first acquisition of another company after just this past summer the company was talking about acquiring SentinelOne, a major Israeli cybersecurity firm, for $5 billion.
Raftt was founded in 2021 by Roy Larchy, who serves as CEO, and Gahl Saraf, CTO – both experienced senior developers who served in the Intelligence Corps of the IDF. Roy was the R&D Group Manager at Skycure, which was acquired by Symantec, and Gahl served as a tech lead and architect at Meta and led the development of the Facebook Lite application.
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Raftt boasts that it provides easy-to-use developer environments which run in the cloud, enabling advanced collaboration while using existing local integrated development environments (IDEs) and other tools and workflows. With this tool, developers can eliminate setup and drift between environments, create unlimited environments for every need, and spend more time on what they do best – focus on their code.
An IDE is a software application that provides computer programmers complete services needed for software development. An IDE is usually comprised of a source code editor, build automation tools and a debugger.
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 became a super unicorn and the world’s biggest cybersecurity startup when it hit a $10 billion valuation in January. The valuation came with a $300 million raise in a Series D funding round led by Lightspeed Venture Partners and existing investors Greenoaks Capital Partners and Index Ventures. Wiz also became the fastest SaaS company to achieve a $10 billion valuation.
“We are delighted to bring on board Rafft’s talented team,” said the Wiz CEO Rappaport. “Our platform enables organizations to manage risk in the cloud from the development to the implementation stage, and assists in taking simple, quick action to narrow the gaps between security teams and development people. Acquiring Rafft will assist in our efforts to promote secured development in the cloud and to prevent security and development problems in advance.”
