(Bloomberg) — Wiz, a cloud security startup, had its valuation more than triple to $6 billion in its latest funding round, Chief Executive Officer Assaf Rappaport said in an interview.
The Tel Aviv-based company raised $250 million from investors such as Insight Partners and Greenoaks Capital, Rappaport said. Sequoia Capital, Index Ventures and Salesforce Ventures also participated.
Wiz was valued at $1.8 billion when it raised money five months ago.
Founded in January 2020, the company has now attracted $600 million from investors looking to profit from the booming demand in cloud security services. Global cloud management and security spending is forecast to jump to $18 billion next year, a 26% increase from 2020, according to a Gartner Inc. report from April.
Wiz’s software lets clients like Blackstone Inc. and DocuSign Inc. find potential risks related to their use of platforms such as Amazon Web Services and Microsoft Azure.
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