Total amount raised
$2 Billion
Latest funding date
11/1/2024
Location
Wiz has successfully raised funding over 8 rounds, with the latest being a Venture - Series Unknown round. The company is backed by 21 investors, including notable names like SoftBank Vision Fund and Howard Schultz.
Wiz's cloud security platform is designed to unify security and development teams, offering agentless visibility, risk prioritization, and threat detection across cloud environments. Keep reading to explore the intricacies of Wiz's fundraising journey and the investors backing this innovative platform.
What Is Wiz?
Wiz is a prominent player in the cloud security industry, offering a platform that facilitates collaboration between security, development, and DevOps teams. Based in New York, the company has grown significantly, employing between 501 and 1000 people.
Founded to address the complexities of cloud security, Wiz has quickly become a trusted name, with its platform being used by over 50% of Fortune 100 companies. The company operates in the cloud security, cyber security, enterprise software, and security sectors.
How Much Funding Has Wiz Raised?
- Series A
- Amount Raised: USD 100,000,000
- Date: December 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial product development and market entry.
- Series B (March)
- Amount Raised: USD 130,000,000
- Date: March 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand market presence.
- Series B (May)
- Amount Raised: USD 120,000,000
- Date: May 2021
- Lead Investors: Salesforce Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and enhance product offerings.
- Secondary Market
- Amount Raised: USD 100,000,000
- Date: October 2021
- Lead Investors: G Squared
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Series C
- Amount Raised: USD 250,000,000
- Date: October 2021
- Lead Investors: Greenoaks, Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product capabilities and enter new markets.
- Series D
- Amount Raised: USD 300,000,000
- Date: February 2023
- Lead Investors: Greenoaks, Index Ventures, Lightspeed Venture Partners
- Valuation at Round: USD 10,300,000,000
- Motivation Behind the Round: To support rapid growth and prepare for potential IPO.
- Series E
- Amount Raised: USD 1,000,000,000
- Date: May 2024
- Lead Investors: Andreessen Horowitz, Lightspeed Venture Partners, Thrive Capital
- Valuation at Round: USD 12,000,000,000
- Motivation Behind the Round: To fund acquisitions, product development, and talent acquisition.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: November 2024
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and strategic initiatives.
Total Amount Raised: USD 2,000,000,000. Current Valuation: USD 12,000,000,000.
Key Investors
- SoftBank Vision Fund
- Details: SoftBank Vision Fund is a major global investment fund managed by SoftBank Group. It focuses on large-scale investments in technology companies.
- Investment Focus Areas: Technology, telecommunications, AI.
- Notable Investments: Uber, WeWork, ByteDance.
- Andreessen Horowitz
- Details: Andreessen Horowitz is a prominent venture capital firm known for investing in technology companies. It has a strong track record of backing successful startups.
- Investment Focus Areas: Technology, software, internet.
- Notable Investments: Facebook, Airbnb, Slack.
- Lightspeed Venture Partners
- Details: Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations. It invests in both enterprise and consumer sectors.
- Investment Focus Areas: Enterprise, consumer, disruptive innovations.
- Notable Investments: Snap, Affirm, MuleSoft.
- Thrive Capital
- Details: Thrive Capital is a venture capital firm that invests in internet and software companies. It is known for its strategic investments in high-growth startups.
- Investment Focus Areas: Internet, software.
- Notable Investments: Instagram, Stripe, GitHub.
- Greenoaks
- Details: Greenoaks is a global investment firm that partners with technology companies. It focuses on long-term investments in high-potential startups.
- Investment Focus Areas: Technology, internet.
- Notable Investments: Coupang, Robinhood, Discord.
What's Next for Wiz?
Wiz stands at the cusp of significant growth opportunities, driven by its recent $1 billion funding round and a valuation of $12 billion. The company plans to leverage this capital for strategic acquisitions, product development, and talent acquisition, aiming to expand its cloud security platform and enhance its threat detection capabilities. With 40% of Fortune 100 companies already on board, Wiz is well-positioned to deepen its market penetration and prepare for an eventual IPO once it reaches $1 billion in Annual Recurring Revenue (ARR).
Future fundraising opportunities are likely as Wiz continues its aggressive acquisition strategy, targeting both established cybersecurity firms and promising startups. The company’s focus on integrating AI security and expanding its Cloud Native Application Protection Platform (CNAPP) aligns with industry trends towards consolidated security solutions. However, challenges such as integrating acquired technologies, maintaining rapid growth, and staying ahead of evolving security threats will require continuous innovation and strategic execution.
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