The word “wizard” is defined by Merriam-Webster as “a person who is very good at something.” It can be a term that brings to mind wizards within the Harry Potter meaning.
It’s proven to be an apt name for a corporation that is among the many fastest-growing startups in history – in 2022, the cloud security company achieved an ARR of $100 million just 18 months after launch and has continued to grow rapidly ever since pace.
The company is currently at a degree of maturation as Wiz transitions from a start-up company to an acquiring institution. He was interviewed by Wiz CEO and co-founder Assaf Rappaport Fortune exclusively about Wiz’s second-ever acquisition with the acquisition of Gem Security, a cloud threat detection startup:
Gem, founded in 2022 and specializing in so-called cloud detection and response, or CDR, landed on Rappaport’s radar last 12 months. “I’ve never gotten so many calls from so many investors asking, ‘Hey, how can we get into Gem?’” Rappaport said. “That’s when I knew something was happening.”
In some ways, Wiz’s acquisition of Gem is over a decade old, because Rappaport and Gem co-founder and CEO Arie Zilberstein goes further back than you would possibly expect:
The speed of Gem’s takeover may be partly attributed to the common language between Rappaport and Zilberstein. The two have quite a bit in common, which is simple to see after they’re on a Zoom call – they’re each sitting with suggestive artwork within the background (Rappaport’s side even has a painting of his co-founder Costika), and so they’re each very excited to learn that they’ve border collie mixes.
And then they met for the primary time – greater than a decade ago, Rappaport and Zilberstein worked within the Israeli Defense Forces’ elite cyber unit, Unit 8200. It’s a program that screens 100,000 recruits yearly and selects only the highest dozen.
Rappaport said Fortune that Wiz shall be searching for more business this 12 months as the corporate looks to proceed its streak of making magic.
Read the total story here.
See you tomorrow,
Joe Abrams curated the deals section of today’s newsletter.
VENTURE OFFERS
– Monad LaboratoriesNew York-based blockchain developer Monad has raised $225 million in Series A financing. Paradigm he was leading the round and joined him Electric capital AND Greenoaks.
– HysetCoa Paris, France-based hydrogen distribution station chain and hydrogen vehicle rental provider has raised €200 million ($217 million) in financing. Hy24 he was leading the round and joined him RAISE your influence AND Eiffel Investment Group.
– HospitalityA Covina, California-based property management software platform targeting the short-term rental and hospitality industries has raised $130 million in Series F financing. KKR he was leading the round and joined him The capital of Inovia and existing investors Apak, BDT and MSDAND Sixth Street.
– Platform LearningSan Diego-based fleet management platform raised $125 million in funding BDT and MSD partners, Capital activation, Venture partners in Manhattan, CR England, Cummins, Daimler truck, PACCARand others.
– Growth therapya New York-based platform that connects potential patients with therapists to therapists and provides insurance billing, electronic record keeping and other tools has raised $88 million in Series C funding. Capital of Sequoia he was leading the round and joined him Goldman Sachs Alternatives AND PLUS Capital.
– Symbolsa San Francisco-based creator of artificial intelligence models capable of structured reasoning has raised $33 million in funding. Khosla ventures he was leading the round and joined him First day ventures, Generic catalytic converter, Abstract venturesAND Buckley’s ventures.
– OnumMadrid-based data commentary platform raised $28 million in Series A funding. Capital of Dawn he was leading the round and joined him Kibo’s ventures AND Insight partners.
– ReshapeDanish artificial intelligence and robotics imaging and evaluation platform headquartered in Copenhagen, raised $20 million in Series A funding from Astanor’s ventures, R7, CULMINATION, Y Combinator, Nicholas FranciszekAND 21.Bio.
– Andesitea Washington, D.C.-based artificial intelligence cybersecurity platform has raised $15.3 million in funding Partners of the Red Cell AND General Catalyst.
– Ready to attackthe Dallas, Texas-based developer of an AI-powered unified cybersecurity operations platform has raised $12 million in Series A financing. Projects 33N he was leading the round and joined him Hitachi ventures, Capital of Monta Vistaand others.
– AI procurement sciencea Washington, D.C.-based intelligence platform for presidency contractors has raised $10 million in Series A funding. Battery ventures led the round and was joined by an existing investor Tower research capital and recent investors The capital of K Street AND Blu Ventures.
– BiteA New York developer of self-service kiosks for restaurants has raised $9 million in Series A financing. Staley Capital he was leading the round and joined him Graham Partners, Food-X, One-way venturesAND Tamarisc ventures.
– The world of KIKIa Los Angeles-based beauty company that permits users to vote on recent products has raised $7 million in funding. a16z cryptocurrency AND New Estee Lauder incubators and so they joined Fold, 2 The punk capital, Progressand others.
– SpikesAI-powered publishing platform based in Boynton Beach, Florida, raised $6.5 million in seed funding. Aleph he was leading the round and joined him M Fund, And SeñorAND Lion Tree.
– CarraraSha’ar Hanegev, an Israeli supplier of battery modules and thermal management systems for electric vehicles, raised $5.3 million in Series A financing from recent investors BV output, Our crowd, NextEquipmentand existing investors Gentherm, Next jumping ventures, Dive digitallyand others.
– JUICE MANSan Francisco-based provider of revenue and pricing management solutions has raised $5.3 million in seed funding. York i.e he was leading the round and joined him Strengthen your ventures, Partners of the Mudita enterpriseand others.
– Marleybonesthe London-based, UK-based gourmet pet food and treats brand has raised £900,000 ($1.1 million) in seed funding. Jam Jar Investments he was leading the round and joined him Active partners, ReefAND KatKin.
PRIVATE CAPITAL
– ARCHIVED acquired a majority stake in Cellese, a creator of topical dermocosmetics based in Irvine, California. Financial terms weren’t disclosed.
– Cobalt Service Partnerssupported by Alpine investorsacquired Automated door waysautomatic and manual door installer based in Columbus, Georgia, Toepfer’s safetysecurity systems installer based in Waukesha, Wisconsin, Industrial Gates Companyindustrial and industrial door installer in sacramento california and Internal security systems, a security systems installer based in Shreveport, LA, specializing in class districts and correctional facilities. Financial terms weren’t disclosed.
– Crest Rock Partners acquired a majority stake in Relocality Holding corporations, a Los Angeles, California-based provider of destination software and services designed to streamline the worker relocation process. Financial terms weren’t disclosed.
– Capital of the Enlightenment acquired a minority share in the corporate Peak Technology Group, a Mechanicsburg, Pennsylvania-based provider of software platforms for presidency, regulatory and financial processes supporting U.S. federal government agencies, industrial financial institutions and company clients. Financial terms weren’t disclosed.
– Fenix partssupported by Stellex capital managementacquired Neal’s Auto Parts, an auto recycling company based in Peoria, Illinois. Financial terms weren’t disclosed.
– Potential partners acquired a majority stake in Warren Dach, a roofing services provider based in Walton Hills, Ohio. Financial terms weren’t disclosed.
– RealmOneportfolio company Capital of the Enlightenmentacquired Torin consulting companybased in Reston, Virginia, a provider of operational support and consulting services. Financial terms weren’t disclosed.
– Verdane acquired a majority stake in Corlitics, based in Dublin, Ireland, a provider of regulatory intelligence and policy compliance technology. Financial terms weren’t disclosed.
FUNDS + FUNDS OF FUNDS
– BearsDallas, Texas-based private investment firm has raised $4.1 billion for its second fund focused on investments in skilled sports franchises.
PEOPLE
– Bearsprivate investment firm based in Dallas, Texas Brian Lafemina as an operational partner. Previously, he served as industrial director for Los Angeles 2028 Olympic Games Organizing Committee AND President of the Washington Commanders football club.
– Define venturesa San Francisco-based enterprise capital firm has been hired Frank Williams as a partner of the enterprise. Formerly. He served as the corporate’s general director and president Evolutionary health.
– Littlejohn & Coemployed private investment firm based in Greenwich, Connecticut Farrukh Market as an operational advisor. He previously served as the corporate’s senior vp and chief strategy officer CSX Company.
– Mercury fundhired enterprise capital firm based in Houston, Texas Devin Redmond as a senior associate. Formerly he was from Wells Fargo.
Credit : fortune.com
