Wiz closes $300 million Series D round and adds unicorns to the list.

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12:36 | 28 February 2023

Wiz closes $300 million Series D round and adds unicorns to the list.

On Monday, Feb. 27, Wiz announced the closing of a $300 million Series D round of new capital and a $10 billion valuation.

The Series D funding was led by Lightspeed Venture Partners and existing investors Greenoaks Capital Partners and Index Ventures. In total, just three years after its founding, Wiz has raised $900 million from investors including Sequoia Capital and Salesforce Ventures.

Wiz was founded in March 2020 by CEO Assaf Rappaport, CTO Ami Luttwak, VP of Products Yinon Kostic and VP of Research and Development Roy Resnick. The team previously worked together in Microsoft’s cloud security group and co-founded Adallom, which was acquired by Microsoft in 2015 for $320 million.

The Wiz startup said it plans to use the new funding to expand its workforce, which is currently based in New York and Tel Aviv and has about 650 people. The company also plans to open new offices in Austin and Dallas, Texas, and Washington, D.C.

However, according to the company, none of the new amounts will go to Israel, amid ongoing unrest over the country’s proposed judicial reforms.

The prime minister’s plans have sparked widespread protests and led some leaders of Israel’s thriving tech sector to question future investments in the country. Among the tech companies that are considering pulling out of the country is Papaya Global, a $4 billion pay-to-play startup.

“Unfortunately, because of the legal coup, the money raised will not get into Israel,” Wiz co-founder and CEO Assaf Rappaport said in a statement to Reuters. “Our great concern about Israeli high tech is not only that money is leaving Israel, but also that there is a lot of money that will no longer get into Israel.”

In the first six weeks of 2023, cyber startups received a total of about $1.7 billion This is less than the same period in 2022, but more than in 2021 and 2020.

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