Total amount raised
$110 Million
Latest funding date
7/1/2024
Location
Dazz has successfully navigated three funding rounds, attracting investments from notable firms such as Index Ventures, Cyberstarts, Greylock, and Insight Partners. The company specializes in delivering unified security remediation across code, clouds, infrastructure, and applications for security and development teams.
Keep reading to explore the intricacies of Dazz's fundraising journey and the investors backing this innovative platform.
What Is Dazz?
Dazz operates in the cloud security, cyber security, DevOps, and information technology sectors. The company is based in Palo Alto, California, and has an employee count ranging from 101 to 250.
Founded by Merav Bahat, Dazz focuses on providing unified security remediation across code, clouds, infrastructure, and applications for security and development teams. The company has been acquired by Wiz, enhancing their Cloud Native Application Protection Platform (CNAPP).
How Much Funding Has Dazz Raised?
- Seed Round
- Amount Raised: USD 10,000,000
- Date: June 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial development and launch of Dazz's unified security remediation platform.
- Series A
- Amount Raised: USD 50,000,000
- Date: December 2021
- Lead Investors: Cyberstarts
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the company's growth and enhance its AI-powered technologies for risk prioritization and remediation.
- Series Unknown
- Amount Raised: USD 50,000,000
- Date: July 2024
- Lead Investors: Cyberstarts, Greylock, Index Ventures, Insight Partners
- Valuation at Round: Nearly $400 million
- Motivation Behind the Round: To support Dazz's mission to help security and engineering teams reduce exposure efficiently and to accelerate the company's momentum in redefining risk prioritization and remediation using AI technologies.
Total amount raised: USD 110,000,000. Current valuation: Nearly $400 million.
Key Investors
- Cyberstarts
- Details: Cyberstarts is a venture capital firm focused on cybersecurity startups. They have been a partner to Dazz since its inception.
- Investment Focus Areas: Cybersecurity.
- Notable Investments: Wiz, Fireblocks, Axis Security.
- Greylock
- Details: Greylock is a leading venture capital firm known for investing in early-stage technology companies. They co-led the latest $50 million funding round for Dazz.
- Investment Focus Areas: Technology, enterprise software, consumer internet.
- Notable Investments: Airbnb, LinkedIn, Facebook, Palo Alto Networks.
- Index Ventures
- Details: Index Ventures is a global venture capital firm investing in technology-enabled companies. Shardul Shah from Index Ventures is mentioned as a partner.
- Investment Focus Areas: Technology-enabled companies across various sectors, including enterprise software, consumer internet, and fintech.
- Notable Investments: Dropbox, Slack, Robinhood.
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm investing in growth-stage technology and software companies. They participated in the latest funding round for Dazz.
- Investment Focus Areas: Growth-stage technology and software companies.
- Notable Investments: Twitter, Shopify, Qualtrics.
What's Next for Dazz?
With the recent $50 million funding round, Dazz is poised to capitalize on significant opportunities in the cybersecurity market. The company plans to expand its customer base across various industries, including financial services, healthcare, and technology. Leveraging AI technologies, Dazz aims to enhance its Unified Remediation Platform to address more complex security challenges, positioning itself as a leader in the market.
Future fundraising opportunities appear promising as Dazz continues to demonstrate rapid growth and market impact. The company has already achieved a 400% increase in Annual Recurring Revenue (ARR) and managed 1.2 billion vulnerabilities. This momentum is likely to attract further investment from existing and new investors, supporting Dazz's mission to reduce exposure efficiently.
However, Dazz will face challenges such as keeping up with the rapidly evolving cybersecurity landscape and ensuring the scalability of its AI-powered solutions. Maintaining a competitive edge in a crowded market will require continuous innovation and effective scaling of operations. Despite these challenges, Dazz's strategic focus and robust platform position it well for future success.
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