Funding round secures $300M for Wiz

Cloud security firm Wiz has landed a $300 million Series D funding round, bringing its total valuation to $10 billion, reports VentureBeat. Wiz will be allocating the newly secured funds toward strengthening its cloud security posture management and cloud-native application protection platform, which seeks to improve cloud threat detection and response. Such technologies have been crucial amid the growing prevalence of cloud security breaches due to inadequate data asset visibility and under-resourced security staff. "Cloud is agile and dynamic this is the reason it enables companies to grow so fast. However, this is also why it is so hard to secure the cloud. It keeps changing," said Wiz co-founder and CEO Assad Rappaport. Despite the presence of competitors such as Prisma Cloud and Lacework, Rappaport touted Wiz's edge in real-time risk management. "Wiz has introduced a new approach, one that enables the business to embrace the cloud securely by continuously identifying and reducing the risks that matter. Wiz is rolled out in minutes via an agentless, API-centered approach to seamlessly scan workloads and give full visibility of cloud environments," he added.