Wiz, a provider of cloud environment security, acquires Dazz, a cybersecurity startup specializing in identifying code vulnerabilities.
According to Silicon Angle, this acquisition, reported at a valuation of $450m, marks a significant expansion of Wiz’s cybersecurity capabilities.
Founded in 2020, Wiz has quickly become renowned for its comprehensive security platform that safeguards public cloud environments, Kubernetes clusters, and AI models, generating $500m in annual recurring revenue. The company is on track to exceed $1 billion in revenue next year.
Dazz, on the other hand, has carved out a niche in application security posture management (ASPM). Its platform, which serves approximately 100 organizations, is known for its robust growth, boasting a 500% annual increase in revenue. Dazz’s ASPM platform is pivotal in scanning developer code for vulnerabilities and offering remediation advice.
This acquisition by Wiz aims to integrate Dazz’s innovative technology into the newly launched Wiz Code service, which also focuses on vulnerability detection and resolution in coding. The strategic move is expected to bolster Wiz’s offerings by incorporating AI-driven risk prioritization and remediation capabilities into Wiz Code.
The acquisition is part of Wiz’s broader strategy to expand its security solutions portfolio, following previous acquisitions such as Gem Security Inc. and Raftt Systems Ltd., enhancing its cloud and Kubernetes security technologies.
“ASPM goes prime time with the announcement of Wiz acquiring Dazz,” Wiz CEO Nikhil Gupta remarked, highlighting the strategic importance of this acquisition in the evolving cybersecurity landscape.
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