Wiz announced a $1 billion funding round at a $12 billion valuation on May 7, 2024. Andreessen Horowitz, Lightspeed Venture Partners and Thrive Capital led the financing. The figure describes Wiz’s valuation for that 2024 round; it should not be read as the company’s current valuation.
What Wiz announced
The company said the financing brought its total funding to $1.9 billion. In its May 7, 2024 announcement, CEO and cofounder Assaf Rappaport described 2024 as “the year of consolidation” for Wiz and the wider industry. That was his view of the market, not a measured industry statistic.
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Wiz’s press release reported $350 million in annual recurring revenue (ARR) in 2023 and said Wiz served 40% of Fortune 100 companies. Those were company-reported figures; the cited material does not establish that they were independently audited.
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1Scan for outdated or missing drivers - takes under a minute2Clear out junk files and repair common Windows errors3Fix the driver behind crashes, sound loss and screen glitchesWho invested in the round?
Andreessen Horowitz, Lightspeed Venture Partners and Thrive Capital were the lead investors. Wiz also named the following participants in its announcement:
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- Greylock
- Wellington Management
- Cyberstarts
- Greenoaks
- Howard Schultz
- Index Ventures
- Salesforce Ventures
- Sequoia Capital
How did the round compare with Wiz’s prior financing?
TechCrunch reported that Wiz’s February 2023 round was $300 million at a $10.3 billion post-money valuation. It characterized the May 2024 financing as a Series E and reported that it included a small secondary component. The secondary detail and Series E label come from TechCrunch’s reporting, rather than Wiz’s short announcement.
| Financing | Amount and valuation | What was reported |
|---|---|---|
| February 2023 | $300 million at a $10.3 billion post-money valuation | TechCrunch’s May 2024 account of the prior round |
| May 2024 | $1 billion at a $12 billion valuation | Wiz’s announcement; TechCrunch called it a Series E and reported a small secondary component |
The two valuations are figures attached to particular funding events, not a measure of Wiz’s present value.
Why did Wiz raise the money?
Wiz said it planned to use the proceeds to hire talent, expand its products and pursue strategic acquisitions. The company tied plans to expand its cloud detection and response capabilities to its acquisition of Gem Security. It also framed vendor consolidation—companies reducing the number of security providers they use—as an opportunity for its platform.
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In its contemporaneous report on the financing, TechCrunch described Wiz’s growth strategy as combining hiring and research and development with acquisitions. The plans explain the stated purpose of the funding; they do not, by themselves, establish that every intended outcome followed.
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What the valuation does—and does not—tell you
A private-company valuation announced alongside a funding round is a deal-specific figure. Here, the $12 billion figure belongs to Wiz’s May 2024 financing announcement. It is not a public stock-market price, a guaranteed sale value or evidence of the company’s valuation today.
TechCrunch reported in October 2024 that Rappaport said Wiz had declined a $23 billion offer from Alphabet. That is a separate historical report about an offer at that time, not an update to the terms of the May funding round. The sources cited here do not establish Wiz’s current ownership or the status of any later acquisition proposal.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Did Wiz plan to go public?
TechCrunch reported in May 2024 that Wiz intended to pursue an eventual IPO. That was an ambition expressed at the time, not a scheduled offering or assurance that Wiz would go public.
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