Assaf Rapoport’s company has announced an additional $ 250 million for the cloud security platform it has developed. This, after raising $ 350 million six months ago at a value of 1.7 billion
Business
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Business
| Posted 11/10/21 14:15
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Within a year and a half of its inception, Assaf Rapaport’s cyber company, Wiz, reached a value of $ 6 billion. The company announced today (Monday) an additional $ 250 million raising.
The company, which employs 180 people in Israel and the United States, raised $ 350 million just six months ago at a value of $ 1.7 billion. The cyber company has developed a security platform for the cloud environment that scans through API-based interfaces.
The platform analyzes permissions and errors that may be open to hackers and maps the material risks in the cloud.
Wiz was founded by Assaf Rapaport, CEO; Ami Lotbeck, VP of Technology; Yinon Kostika, VP of Products; and Roi Reznik, VP of Research and Development. The entire team has been working together for more than 15 years, among other things, as managers of the Microsoft cloud security group that acquired Adalom, which they set up, for about $ 320 million.
“It’s amazing how exciting the last year and a half has been in business despite the corona,” said CEO Assaf Rapaport. At a tremendous pace and become a true global company. But leave the numbers for a moment: the achievement I am most proud of is the team we have built – in the end this is the main basis for our success. “
Previous fundraisers included Gili Raanan’s Sequoia, Index, Insight Partners, Green Ox, Salesforce and CyberStarts. Prominent private investors in the company include Bernard Arno, the richest man in the world; Howard Schultz, owner of Starbucks. The current fundraiser includes most of the investors who took part in previous fundraisers.
Jeff Horning, Founder and Managing Partner of the Insight Fund: “Wise’s growth in the corporate market is astonishing. When you have a proven team of leaders like the one here who builds a product that changes the rules of the game, you gamble all over the box office. Wise builds the world’s security technology I need her. “
