Dazz will be the force multiplier for Wiz Code, Wiz's latest product, designed to secure the application lifecycle with a developer-first approach
NEW YORK, NY / ACCESSWIRE / November 21, 2024 / Cloud security leader Wiz today announced its acquisition of Palo Alto-based startup Dazz, the leader in Unified Security Remediation and ASPM. This strategic acquisition comes on the heels of the recent launch of Wiz Code, marking Wiz's transition into a multi-product company. By integrating Dazz's capabilities into Wiz, Wiz aims to extend its offering to smart risk prioritization and remediation, simplifying how customers strengthen their security posture. This enables security and engineering teams to mitigate threats more effectively and provides vulnerability management teams with a unified remediation platform.
Founded in 2021 by Merav Bahat (CEO), Tomer Schwartz (CTO), and Yuval Ofir (VP R&D), Dazz has transformed traditional vulnerability and risk management by using AI, automation, and root-cause analysis, enabling security and engineering teams to identify, prioritize, and fix vulnerabilities in hours instead of weeks. The Dazz platform helps security and developer teams work better together while providing comprehensive visibility across the full attack path, from cloud to code and back and across CI/CD pipelines. The company has experienced exceptional business momentum with 500% growth in ARR year over year, managing over 8 billion vulnerabilities, resolving over two billion issues at the root cause, and deprioritizing many more. Dazz has raised $110 million from top cybersecurity investors, including Greylock Partners, Insight Partners, Index Ventures, and Cyberstarts, with its most recent funding round taking place in July.
In September, Wiz launched Wiz Code, a new product designed to bring security and development teams closer together by tracing cloud issues back to their origin in the code. The acquisition of Dazz will enable Wiz to double down on its offering and extend beyond Wiz Code's value for customers by introducing AI-driven prioritization and remediation capabilities. This acquisition marks Wiz's third in a year, following the acquisitions of Raftt, a cloud-based developer collaboration platform, and Gem Security, a cloud detection and response company. Wiz has raised $1.9 billion in funding, boasts over $500 million in ARR, and counts more than 45% of the Fortune 100 as customers. The company continues to pursue strategic M&A opportunities as part of its mission to build the most comprehensive cloud security platform.
"Wiz has always been committed to empowering organizations to genuinely improve their security posture-not just to report on risks, but to prioritize and resolve them," said Assaf Rappaport, 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. The talented team at Dazz has already collaborated closely with Wiz, and we're thrilled to deliver this unified offering to our customers, marking a new era in application security and vulnerability management."
"Exposure management and remediation are top priority for cybersecurity teams across the industry, from Fortune 500 companies to high-growth businesses. Our team's commitment to solving real customer needs, combined with unparalleled technology, has translated into Dazz's hyper growth over the years," said Merav Bahat, Co-Founder and CEO of Dazz. "We've revolutionized this space with innovations centered on prioritization, root-cause analysis and AI remediation capabilities. Now, we are excited to join Wiz to pursue the shared mission of simplifying cloud remediation, while building the world's leading cybersecurity company together."
About Wiz
Wiz secures everything organizations build and run in the cloud. Founded in 2020, Wiz is the fastest-growing software company in the world. Wiz enables hundreds of organizations worldwide, including over 45 percent of the Fortune 100, to rapidly identify and remove critical risks in cloud environments. Its customers include Salesforce, Slack, Mars, BMW, Avery Dennison, Priceline, Cushman & Wakefield, DocuSign, Plaid, and Agoda, among others. Wiz is backed by Andreessen Horowitz, Sequoia, Index Ventures, Lightspeed, Insight Partners, Cyberstarts, Thrive Capital, Greylock, Wellington, Salesforce, Blackstone, Advent, Greenoaks and Aglaé. Visit https://www.wiz.io for more information.
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SOURCE: Wiz
View the original press release on newswire.com.
Source: Wiz