Wiz, a US-Israeli startup and cloud cybersecurity solutions provider, has raised $1bn in a private funding round led by Andreessen Horowitz, Lightspeed Venture Partners and Thrive Capital, valuing the four-year old company at $12bn, according to a report by Reuters.
The report cites a statement made on Tuesday by Wiz, which has now raised $1.9bn since its founding in 2020, in revealing that it plans to use the finds for future merger & acquisition efforts, talent recruitment and product development.
Wiz’s new valuation is a 20% increase over the company’s latest fundraising round last year, with the business expecting 2024 to be a year of consolidation within the security market.
Other participants in the funding round include Greylock and Wellington Management, as well as existing investors Cyberstarts, Greenoaks, Howard Schultz, Index Ventures, Salesforce Ventures and Sequoia Capital.
