Dutch IT Channel – Cloud security specialist Wiz raises 1 billion dollars

The funding round was led by renowned investment firms Andreessen Horowitz, Lightspeed Venture Partners and Thrive Capital. Existing investors including Cyberstarts, Greenoaks, Salesforce Ventures and Sequoia Capital also participated in the round.

This latest investment brings Wiz’s total funding to date to a whopping $1.9 billion. The company plans to use the funds in three key areas:

• Mergers and acquisitions (M&A): Wiz aims to build a comprehensive cloud security platform by strategically acquiring other companies in the industry.
• Talent acquisition: The company is actively looking for top talent to drive continuous growth and product development.
• Product development: Wiz will invest in further developing its cloud security solutions to meet the evolving needs of its customers.

This funding news follows Wiz’s recent acquisition of Gem Security, a Cloud Detection and Response (CDR) provider, cementing their position as an influential player in cloud security solutions.