Wiz aims for millions in funding, valued over $10 billion

TLDR:

• Cybersecurity unicorn, Wiz, is in negotiations to raise hundreds of millions of dollars at a valuation of over $10 billion.
• The company aims to reach a billion dollars in sales and plans to add 400 employees globally in 2024.

According to the Financial Times, cybersecurity unicorn Wiz is in talks with investors including Thrive, Lightspeed Venture Partners, and G Squared to raise hundreds of millions of dollars at a valuation of over $10 billion. The Israeli cloud security company recently hit $350 million in Annual Recurring Revenue (ARR) and appointed Dali Rajic as President and Chief Operating Officer to help steer the company through its rapid growth. Wiz, which raised $300 million in a Series D last February, has set a target of reaching a billion dollars in sales and plans to add 400 workers globally in 2024. The company’s impressive client list includes Salesforce, Slack, BMW, DocuSign, and more. Wiz is backed by top investors including Sequoia, Index Ventures, and Salesforce.