Wiz Acquires Gem Security to Expand Cloud Detection and Response Offering
Summary
With a valuation of $10 billion and $900 million raised to date, Wiz aims to add to its Cloud Native Application Protection Platform (CNAPP) with Gems technology. With $34 million raised to date from Team8, Notable Capital (formerly GGV Capital), IBM Ventures, Cisco Investments and Silicon Valley CISO Investments (SVCI) Gems employees will be joining Wiz, and the companys co-founders (CEO Arie Zilberstein, CTO Ron Konigsberg, and VP Product Ofir Brukner) will join the Wiz executive team. The company previously expressed interest in pursuing M&A opportunities as part of its mission to build a holistic cloud security platform catering to a wide array of industry needs. Wiz enables hundreds of organizations worldwide, including 40 percent of the Fortune 100, to rapidly identify and remove critical risks in cloud environments. Its customers include Salesforce, Slack, Mars, BMW, Avery Dennison, Priceline, Cushman & Wakefield, DocuSign, Plaid, and Agoda, among others.