Cloud Security Firm Wiz Raises $120 Million

For its part, Salesforce contributed to Israeli startup Wizs Series B round with $120 million in funding, Bloomberg reported. The cybersecurity company’s software helps such clients as DocuSign and Massachusetts Mutual Life Insurance Co. find potential risks in cloud-based systems. According to Bloomberg, global cloud management and security spending is forecast to jump to $20 billion next year, according to a Gartner Inc. report from November. Fed Chairman Jerome Powell said in an interview on April 11 with CBS News that the risks posed by cybercriminals are greater than the lending and liquidity troubles that triggered the 2008 financial crisis. “And so, we spend so much time and energy and money guarding against these things.” By comparison, Powell said, the chance of a breakdown similar to the great financial debacle of 2008 is “very low.”