Cloud Security, Content, Channel investors

Wiz Multi-Cloud Security Gains Fortune 500 Customers, Funding

Wiz, a cloud-focused cybersecurity startup, has raised $250 million in Series C funding at a $6 billion valuation. Insight Partners and Greenoaks Capital co-led the round, with participation from Sequoia, Index, Salesforce, and others, according to a blog from Wiz CEO Assaf Rappaport.

Wiz founders are Microsoft cloud veterans. The startup has discovered, disclosed and documented multiple Azure security issues over the past year -- particularly ChaosDB and OMIGOD. The company also focuses on Amazon Web Services (AWS) and Google Cloud Platform (GCP) security.

Fortune 500 Companies Embrace Wiz Cloud Security Software

Wiz technology delivers "full stack coverage" of all customer workloads on AWS, Azure and/or Google Cloud using a "100% API-based approach that deploys in minutes," the company says.

Assaf Rappaport, CEO and co-founder, Wiz
Assaf Rappaport, CEO and co-founder, Wiz

That approach apparently has triggered customer strong interest in the Wiz platform. Indeed, more than 10% of the Fortune 500 already leverage Wiz technology, Rappaport. Early adopters include Blackstone, DocuSign, Fox, MassMutual, Salesforce, Slack, The Home Depot, Rivian, and UiPath, he added.

What's the value of Wiz? The cloud-based platform, according to Rappaport:

" companies nearly instant coverage of their entire multi-cloud environment, and correlates risks to separate signal from noise. We don’t just identify risks – we prioritize them and find attack vectors no other technology can."

Wiz also has a team of security researchers (i.e., ethical hackers and threat hunters) who search new attack surfaces in the cloud that put customers at risk, he added.

Wiz Partner Program: Where Are MSPs and MSSPs?

Meanwhile, Wiz is building a partner program for resellers and systems integrators, according to the company's Website. MSSP Alert is checking to see if or when Wiz plans to promote its platform to MSPs and MSSPs that offer multi-cloud security services.

Insight Partners, a key Wiz investor, often backs channel- and MSP-friendly technology companies. For instance, Insight Partners also owns stakes in such backup, data protection, cybersecurity and cloud management companies as CoreViewKaseya (owner of Unitrends and Spanning), OwnBackup and Veeam.

Read between the lines, and Insight Partners is quietly building a multi-company cybersecurity and data protection beachhead that extends from enterprise software to the midmarket and down into the MSP-driven SMB channel.

Joe Panettieri

Joe Panettieri is co-founder & editorial director of MSSP Alert and ChannelE2E, the two leading news & analysis sites for managed service providers in the cybersecurity market.