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Wiz is placed ninth in this year’s Forbes Cloud 100 list, up six places since last year.
Cybersecurity provider Wiz has acquired Dazz, a specialist in security remediation and risk management.
The acquisition, reportedly valued at $450m according to TechCrunch, along with the launch of Wiz Code earlier this year – a tool to comprehensively address cloud security concerns – marks the start-up’s transition into a multi-product company, it said in the announcement today (21 November).
Wiz said that by integrating Dazz’s ability into its own, the start-up aims to simplify how its customers strengthen their security posture. Today’s acquisition marks the company’s third in a year – following Raftt, a cloud-based developer collaboration platform, and Gem Security, a cloud detection and response company.
“Wiz has always been committed to empowering organisations to genuinely improve their security posture – not just to report on risks, but to prioritise and resolve them,” said Assaf Rappaport, the co-founder and CEO of Wiz.
“Dazz is a powerful addition to Wiz’s mission, bringing an industry-leading solution that’s gained strong market momentum through relentless innovation and AI-driven capabilities.”
“Exposure management and remediation are top priority for cybersecurity teams across the industry, from Fortune 500 companies to high-growth businesses,” said Merav Bahat, the co-founder and CEO of Dazz. “Our team’s commitment to solving real customer needs, combined with unparalleled technology, has translated into Dazz’s hyper growth over the years.”
Founded in 2020, Wiz – which is headquartered in New York – has raised $1.9bn in funding so far.
The Israeli-founded company provides cloud cybersecurity services for its customers, having grown rapidly in reputation in the four short years since its inception. The company is in ninth place on the 2024 Forbes Cloud 100 list, climbing six places in just one year.
Earlier this year, the company backed out of a $23bn acquisition deal from Google. One source had told CNBC at the time that antitrust and investor concerns contributed to Wiz’s decision to walk away from the deal.
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