Cybersecurity startup Wiz announced on Monday that it reached the $6-billion valuation mark only 18 months after its launch, thanks to a new $250 million funding round led by Insight Partners and Greenoaks Capital.
The round comes six months after the startup’s previous raise. The Israeli startup got $350 million in funding at a $1.7 billion valuation earlier this year from a funding round that also included Greenoaks and Insight Partners, as well as influential names like Salesforce.com, Index Ventures, and Sequoia Capital.
Wiz makes a cybersecurity platform that helps companies find vulnerabilities in their cloud environments.
The best features Wiz has to offer
The platform finds cloud infrastructure resources that are misconfigured, checks containers and VMs (virtual machines) for vulnerable software and other issues elsewhere in serverless functions and third-party software products that a company downloads through its cloud provider’s marketplace.
Wiz supports all three leading clouds. The platform’s ability to spot cybersecurity issues in many types of cloud-based information technology assets stands under the spotlight as a godsend for large enterprises.
Generally, the larger the organization, the more types of infrastructure and apps are used. The level of complexity can skew things too.
No more agents
The platform focuses on ease of deployment as a feature that has helped make it very attractive in the eyes of chief information officers and investors. Many vulnerability detection tools only work if the companies set up agents in cloud environments to collect data. That setup process can take weeks or months, depending on the size of an organization. Wiz eliminates the need to set up agents, bringing the timeline down from weeks and months to minutes. That would explain why it attracts so many investors and investments.