Wiz Raises $1B for Cloud Security Expansion, Valuation at $12B

May 7, 2024, 02:09 PM

Cloud security startup Wiz has successfully raised $1 billion in a Series E funding round, reaching a valuation of $12 billion. The funding round was co-led by prominent venture capital firms Andreessen Horowitz (a16z), Lightspeed Venture Partners, and Thrive Capital. Wiz plans to use the new capital to expand its cloud security platform through strategic acquisitions. This move is part of a broader effort to enhance their capabilities in securing cloud environments, as the company continues to grow rapidly in the cybersecurity sector. The investment from a16z Growth marks a significant endorsement of Wiz's strategy and potential.