Wiz launches new cloud data security technology

• Author: Ofir Dor
• Published date: 22 November 2022
• Publication title: Globes (Rishon LeZion, Israel)

Wiz's announcement is especially interesting since DSPM is one of the most crowded fields in Israeli tech today. In the past two years, no fewer than seven Israeli startups that develop DSPM solutions. Together, these companies have raised over $220 million from the top investors in the market. The most famous of the Israeli entrepreneurs in cloud data security is Asaf Kochan, who was until recently commander of the elite IDF unit 8200, and is cofounder and CEO of Sentra

The list of startups includes Laminar, founded in August 2020, which has raised $67 million; Cyera, founded in December 2020, which has raised $61 million; Dig Security, founded in September 2021, which has raised $45 million; Sentra, founded in July 2021, which has raised $23M; Flow Security, founded in December 2020, which has raised $10 million; Polar Security, founded in November 2020, which raised $8.5 million; and Eureka Security, which was founded in October 2021 and has raised $8 million.

In addition, there is the Israeli-US unicorn BigID, which has raised $250 million to date. BigID has emerged from the field of privacy security policies and now helps organizations meet regulatory requirements for data security. Recently BigID moved into the cybersecurity field and launched its own DSPM product.

Market penetration of less than 1%

Wiz was founded in 2020 by Assaf Rappaport, Ami Luttwak, Yinon Costica and Roy Reznik. The four already have a major exit behind them, selling Adallom to Microsoft in 2015 for $320 million. After the acquisition, they continued to work at Microsoft, and Rappaport was appointed CEO of Microsoft Israel R&D. In October 2021, Wiz announced its most recent financing round, at a valuation of $6 billion, and last August it announced that it had reached an annual recurring revenue (ARR) of $100 million.

Wiz, which has evolved from a field called CSPM (Cloud Security Posture Management). CSPM - in which another Israeli unicorn, Orca Security, operates - does not protect organizations from cyberattacks in real time, but attempts to identify and issue warnings ahead of potential infiltration into organizations' cloud systems. Such infiltrations can result from weak passwords, exposed servers, misconfigurations, code errors, missing software updates and more. Each of these can become a breach that will make it easier for...