Dazz will serve as a force multiplier for Wiz Code, Wiz's latest product, designed to secure the app lifecycle with a developer-first approach
NEW YORK, November 21, 2024 (Newswire.com) – Leading cloud security company Wiz today announced the acquisition of Palo Alto-based startup Dazz, a leader in unified security processing and ASPM. This strategic acquisition follows the recent launch of Wiz Code, marking Wiz's transformation into a multi-product company. By integrating Dazz's capabilities into Wiz, Wiz aims to expand its offerings to include intelligent 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 Pahat (CEO), Tomer Schwartz (CTO), and Yuval Ofir (VP R&D), Dazz has transformed traditional vulnerability and risk management with AI, automation, and root cause analysis, empowering security teams Engineering can identify, prioritize, and fix vulnerabilities in hours rather than weeks. The Dazz platform helps security teams and developers work better together while providing end-to-end visibility across the full attack path, from cloud to code and back and across CI/CD pipelines. The company has seen exceptional business momentum with 500% growth in ARR year over year, managed over 8 billion vulnerabilities, resolved over 2 billion root cause issues, and deprioritized many other issues. Dazz has raised $110 million from leading cybersecurity investors, including Greylock Partners, Insight Partners, Index Ventures and Cyberstarts, with its latest 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 source in code. The acquisition of Dazz will enable Wiz to double down on its offerings and expand beyond Wiz Code's value to customers by offering AI-based prioritization and remediation capabilities. This marks Wiz's third acquisition in one year, following its 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 clients. 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 enabling organizations to truly improve their security posture, not only to report risks, but also to prioritize and resolve them,” said Assaf Rappaport, co-founder and CEO of Wiz. “Dazz is a strong addition to Wiz's mission, offering an industry-leading solution that has gained strong market traction through continuous innovation and AI-driven capabilities. The talented team at Dazz has already collaborated closely with Wiz, and we are thrilled to bring this unified offering to our customers, enabling It represents a new era in application security and vulnerability management.
“Managing and remediating exposure is a top priority for cybersecurity teams across the industry, from Fortune 500 companies to high-growth enterprises. Our team’s commitment to solving real customer needs, coupled with technology that doesn’t… Unparalleled, this has translated into Dazz's extreme growth over the years “We have revolutionized the industry with innovations focused on prioritization, root cause analysis, and AI processing capabilities. Now, we're excited to join Wiz to pursue the shared mission of simplifying cloud processing, while building the world's leading cybersecurity company together.
About Waze
Wiz secures everything organizations build and run in the cloud. Founded in 2020, Wiz is the world's fastest growing software company. Wiz enables hundreds of organizations around the world, including more than 45 percent of the Fortune 100, to quickly identify and remove critical risks in cloud environments. Its clients include Salesforce, Slack, Mars, BMW, Avery Dennison, Priceline, Cushman & Wakefield, DocuSign, Plaid, Agoda, and 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.
Source: Waze
